Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies


Published Date: 2019-09-27 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

AB InBev announces pricing of IPO of Budweiser APAC
AB InBev has announced its decision to proceed with the initial public offering of 1,45 billion shares representing a minority stake in its Asia Pacific subsidiary Budweiser Brewing Company APAC. The shares will be offered at HK$27.00 per share raising US$5 billion, the proceeds of which will be used to repay debt.

Investec Australia Property Fund issues shares
The company successfully launched an accelerated bookbuild offering approximately A$84 million (R849 million) through the issue of 55,572,553 new IAP units at an issue price of A$1.52 per new unit representing a discount of 3.8% to the last close of A$1.58 on the ASX on September 25, 2019. The proceeds will be used to fund the acquisition of an industrial portfolio of properties acquired for A$81 million.

Omnia Rights Offer results
The company announced the results of its rights offer whereby shareholders subscribed for 96,555,357 rights offer shares equivalent to 96.6% of the total number of rights offer shares available for subscription at a price of R20.00 per rights offer share. The excess shares not subscribed for will be allocated to qualifying applicants.

Brimstone Investment repurchases shares
The company has repurchased 2,853,998 in a general repurchase for a total value of R24,17 million. The shares were purchased in a price range of R8.00 to R8.50.The shares will be held as treasury shares. Post the repurchase, Brimstone will hold 3,011,028 ordinary shares representing 7.55% of the company's ordinary issued share capital.

Orion Mineral issues shares
The company has issued 222,307,679 shares to noteholders on the conversion of 232,69 million convertible notes issued in March 2017.

Brainworks Rights Offer results
Shareholders subscribed for 9,427,476 rights offer shares representing 71.42% of the rights offer shares available, raising R61,28 million.

Trellidor repurchases shares
Trellidor has repurchased 2,605,687 shares in terms of its repurchased programme for an aggregate value of R11,1 million.

Sabvest repurchases N shares
Sabvest has undertaken a transaction in terms of which 350,000 Sabvest N ordinary shares, previously held as treasury shares have been repurchased at a price of R32.00 for an aggregate repurchase price of R11,2 million. The repurchased shares will be delisted with effect from September 30, 2019.

Tiso Blackstar to repurchase shares
The company has advised that following the proposed disposal of its SA media, broadcasting and content assets and its content and broadcasting assets in other African countries to Lebashe Investment, it will undertake a specific repurchase of a maximum of 2,900,000 shares at a price of R3.72 per share (R10,79 million)).

Old Mutual repurchases shares
The company repurchased 19,293,712 shares over the period September 19 to 25, 2019 for a total consideration of R384,03 million. The shares were repurchased as part of its R2,4 billion share repurchase programme announced earlier this month.

Reinet repurchases shares
The company repurchased 289,931 shares at an average price of R269.59 per share for a total cost of R78,16 million.

South32 repurchases shares
The company this week repurchased 9,768,543 shares valued at A$26,89 million (R268,91 million).

Anglo American repurchases shares
Anglo has repurchased 1,367,307 shares at a cost of £25,437 million (R469,37 million). The repurchase is part of the company's buyback programme announced on July 25, 2019.

Glencore repurchases shares
This week the company repurchased a further 12,551,352 shares at a cost of £31,39 million (R580,71 million) in terms of its buy-back programme.

Seven companies issued a profit warning announcement
The following companies issued profit warnings this week: Andulela Investment, Unicorn Capital Partners, Ecsponent, Rolfes, African and Overseas Enterprises, Rex Trueform and Orion Real Estate.

Two companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Blue Label Telecoms and Orion Real Estate.

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