In an overwhelming endorsement of Foschini owner TFG’s strategy to ramp investments in e-commerce and expand its discount offering, shareholders almost unanimously backed a deeply discounted R3.95bn fundraising via the sale of new shares.
One the biggest re-sellers of Adidas and Nike products in SA, TFG’s sale of new shares to existing investors, or rights offer, will also help it build cash reserves to withstand the Covid-19 economic shock, which hastened the need to bolster its e-commerce offering and exposed its limited exposure to the vast low-income clothing market.
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TFG shareholders approve rights offer amid plans to move to e-commerceTFG, a large re-seller of Adidas and Nike products, will sell 94-million shares at 42% below their latest closing price in a R3.95bn transaction
Source: BDliveSA - 🏆 12. / 63 Read more »
TFG shareholders approve rights offer amid plans to move to e-commerceTFG, a large re-seller of Adidas and Nike products, will sell 94-million shares at 42% below their latest closing price in a R3.95bn transaction
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: News24 - 🏆 4. / 80 Read more »
TFG shareholders approve R3.95bn rights offerShareholders voted in favour of the offer so as to reduce debt, pursue growth, and strengthen the group’s balance sheet
Source: BDliveSA - 🏆 12. / 63 Read more »
TFG shareholders approve rights offer amid plans to move to e-commerceTFG, a large re-seller of Adidas and Nike products, will sell 94-million shares at 42% below their latest closing price in a R3.95bn transaction
Source: BDliveSA - 🏆 12. / 63 Read more »
TFG shareholders approve rights offer amid plans to move to e-commerceTFG, a large re-seller of Adidas and Nike products, will sell 94-million shares at 42% below their latest closing price in a R3.95bn transaction
Source: BDliveSA - 🏆 12. / 63 Read more »