Commonwealth Bank Of South Africa Limited announced that it expects to receive ZAR 1.6 billion in funding from Apis Partners LLP, JG Summit Holdings, Inc.
February 22, 2021
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Commonwealth Bank Of South Africa Limited announced that it will receive ZAR 1,600,000,000 in a round of funding on February 23, 2021. The transaction will include participation from new investors Apis Growth Fund II, L.P. a fund managed by Apis Partners LLP and JG Summit Holdings, Inc. (PSE:JGS). The transaction will include two tranches. The company has received ZAR 500,000,000 in its first tranche and second tranche of ZAR 1,100,000,000 is expected to be received over the next 12 to 15 months. Some aspects of the transaction remain subject to regulatory approvals.
JG Summit Holdings, Inc. is a holding company for a group of companies with substantial business interests in branded consumer foods, agro-industrial and commodity food products, real estate and hotel, air transportation, banking and financial services, and petrochemicals. It also has core investments in telecommunications and power generation and distribution. The Foods, Agro-Industrial and Commodities businesses segment is engaged in manufacturing and distribution of a diverse mix of salty snacks, chocolates, candies, biscuits, bakery products, beverages and others. The Air Transportation segment include air transport services, both domestic and international, for passengers and cargos, and line and light maintenance services. The Petrochemicals segment is a manufacturer of polyethylene (PE), polypropylene (PP), polymer grade ethylene, polymer grade propylene, partially hydrogenated pyrolysis gasoline, pyrolysis fuel oil, aromatics, butadiene and liquefied petroleum gas (LPG).
Commonwealth Bank Of South Africa Limited announced that it expects to receive ZAR 1.6 billion in funding from Apis Partners LLP, JG Summit Holdings, Inc.
JG SUMMIT HOLDINGS, INC. 
