Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies


Published Date: 2021-07-16 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Transaction Capital in accelerated book build
The company has issued 33,093,389 new ordinary shares, representing c. 5% of the company's existing issued ordinary share capital base, at R35.50 per share to raise R1,17 billion in an accelerated book build which was multiple times oversubscribed. The capital raised will be used in part to finance the acquisition in May of a further 25% stake in We Buy Cars.

Share swap offer by Prosus for Naspers shares given the go-ahead
Last week, Prosus shareholders voted in favour of the offer to buy up to a 45.33% stake in Naspers to be settled by the issuing of new Prosus shares. But only just. Approximately 53% of investors voted in favour. The offer opened on July 12 and will close on August 13, 2021.

Quilter repurchases shares
Quilter has, this week, repurchased an additional 772,095 shares on the LSE at a cost of £1,15 million.

Freedom Property Fund to delist from the JSE
The company informed shareholders that it has concluded discussions with the JSE to remove the company's listing from the local bourse. In July 2016 the company's shares were suspended on the JSE - the listing will be terminated on August 3, 2021.

TWK Investments to change bourses
The company has informed shareholders that it is proposing to delist from Zar X and relist the company's securities on 4AX as its primary listing with possibility of pursuing a secondary listing for TWK on the exchange operated by A2X.

Consolidated Infrastructure to delist
The business rescue practitioners have successfully applied to the JSE to delist the company from the bourse. Shares will delist on July 26, 2021.

One company issued a profit warning announcement
The following company issued a profit warning this week: Sebata.

Three companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Tower Property Fund, Conduit Capital and Delta Property Fund.

DealMakers is SA's M&A publication.

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