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.