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Esorfranki to proceed with rights offer

Johannesburg - Civil engineering and construction group Esorfranki [JSE:ESR] said on Friday that it has registered the relevant rights offer documentation with the Companies and Intellectual Property Registration Office.

It will proceed with a fully underwritten renounceable rights offer of 93 023 256 new ordinary shares to its ordinary shareholders, at a subscription price of R2.15 per share in the ratio of 30.786 rights shares for every 100 ordinary shares held on February 11.

It aims to raise R200m.

Esorfranki is a specialist geotechnical services, roads and earthworks, civils and pipeline construction group.

 

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