South Africa's Sun International will tap shareholders for funds at 9.44 rand a share in a 1.2 billion rand ($71.48 million) rights issue, the hotel and casino owner said on Tuesday.
The owner of Sun City resort will use the rights issue funds to improve its short to medium-term liquidity and strengthen its balance sheet as the coronavirus restrictions hit its operations.
The company will offer 127 million shares at 9.44 rand each, representing a 25% discount, it said in a statement.
($1 = 16.7877 rand)
(Reporting by Nqobile Dludla. Editing by Jane Merriman)
Price
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Change
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5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 35.43 ZAR | -1.03% | -4.24% | 456M | ||
| 0.14 HKD | -8.50% | -2.10% | 45.66M | ||
