Thanaseelan Gobalsamy, financial director of Omnia Holdings. PIcture: FREDDY MAVUNDA
The R2bn rights issue is at the centre of Omnia’s turnaround plan as the proceeds will be used to reduce debt, which at the end of March was R4.4bn. “Twenty rand is probably the price that the banks believed would bring full support from shareholders to participate and support the rights. At R20 you are basically compelled as an existing shareholder to participate,” Clark said.
Source: News Formal (newsformal.com)
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Desperate times’ for Omnia as it offers shares at hefty discountStruggling chemicals company to issue 100-million new shares at R20 each — a 41% discount to Thursday’s share price
Source: BDliveSA - 🏆 12. / 63 Read more »
‘Desperate times’ for Omnia as it offers shares at hefty discountStruggling chemicals company to issue 100-million new shares at R20 each — a 41% discount to Thursday’s share price
Source: BDliveSA - 🏆 12. / 63 Read more »
Ripe time to invest in cannabis sectorSA holding company CanbiGold is offering early-stage investors preferential share blocks
Source: BDliveSA - 🏆 12. / 63 Read more »
‘I don’t think the PIC has lost any money’ from Ayo deal, Dan Matjila saysAyo Technology's share price has fallen precipitously since listing and last traded at R8 per share, representing a plunge of 81% Well according to Dan 4.2 Billion isn't really what he would describe as money You think so? Probably why Matjila no longer in control of PIC.
Source: BDliveSA - 🏆 12. / 63 Read more »
'I don't think the PIC has lost any money' from Ayo deal, Dan Matjila saysAyo Technology's share price has fallen precipitously since listing and last traded at R8 per share, representing a plunge of 81%
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Discovery closes near five-year low as plunge continuesDiscovery’s share price closed at R105.72, down 8.44%, the second day of big losses for the share since the long-awaited NHI bill was unveiled by government on Thursday
Source: BDliveSA - 🏆 12. / 63 Read more »