Weekly summary of corporate finance activity by South African exchange listed companies


Weekly summary of corporate finance activity by South African exchange listed companies


Published Date: 2021-11-19 | Source: DealMakers | Author: Marylou Greig

Weekly summary of corporate finance activity by South African exchange listed companies

Sirius Real Estate issues second corporate bond
The company has raised €300 million in a second senior unsecured corporate bond issuance. The bond which matures at the end of 2028 carries a coupon of 1.75%. The proceeds will be used, in part, to finance the recent expansion into the UK market through the acquisition of the BizSpace Group.

Tongaat Hulett to undertake Rights Offer
In order to achieve a further reduction in debt to a sustainable level, the company intends to undertake a rights offer of up to R4 billion. Tongaat has entered into an underwriting agreement with Magister Investments to partially underwrite the rights offer up to R2 billion. The company says it may enter into further underwriting agreements with other interested parties.

Volaris acquires Adapt IT shares on open market
Volaris has acquired a further 413,674 Adapt IT shares on the market at R7.00 per share (as per the scheme of arrangement).

Quilter repurchases additional shares
Quilter has repurchased an additional 2,177,412 shares on the LSE at a cost of £3,32 million and a further 1,457,701 shares on the JSE at a cost of R46,33 million.

DRA repurchases shares
The company has repurchased a further 8,147 shares in terms of the repurchase programme for a total consideration of A$27,125.

South32 repurchases shares
The company this week repurchased 1,391,925 shares valued at A$4,83 million

Prosus repurchases additional shares
A further 2,654,012 ordinary shares N were repurchased this week by Prosus, at an average price of €72.75 per share for a total consideration of €193,1 million.

Arden Capital proposes to enter voluntary liquidation
The board has proposed a pro-rata unbundling of all the issued shares it holds in Arden Enterprises (AEL) to shareholders as a first step towards a wind-up of the company prior voluntary liquidation. AEL holds all Arden's assets and liabilities.

Anglo American repurchases shares
In terms of the announcement issued by Anglo American on July 29, 2021, in respect of its ordinary share repurchase programme, the company has this week repurchased a further 55,003 shares at a cost of £1,57 million.

Four companies issued profit warning announcements this week
The following companies issued profit warnings: Trematon Capital Investments, Indluplace Properties, Woolworths and Imbalie Beauty.

Seven companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Zeder Investments, Distell, Advanced Health, Spear REIT, Tongaat Hulett, Kaap Agri and Arden Capital.

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