10 Sep 2015

Share

Super Group offers 22% discount in R900m rights issue

Johannesburg - Transport logistics firm Super Group [JSE:SPG] plans to raise R900m via a rights issue to fund an acquisition, it said on Thursday.

The 11.7 for every 100 equity cash call was priced at R25.70 per share, a 22.1% discount to Wednesday's closing price of R33.

The rights offer is underwritten by Investec for up to R1.1bn.

The bulk of the money will be used to fund Super Group's $88.7m (approx R1.23bn) acquisition of a 75% stake in Germany's Telo Zwei Vermögensverwaltung GmbH, which owns transport firm IN tIME Holdings.

IN tIME operates in Germany, Sweden, Hungary, Romania, the Czech Republic and Poland with clients in the auto, pharmaceutical and electronic industries.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
Read more on:
super groupcompaniesindustrial
heading
description
username
Show Comments ()
Rand - Dollar
19.18
-0.1%
Rand - Pound
23.89
-0.3%
Rand - Euro
20.45
-0.3%
Rand - Aus dollar
12.32
-0.1%
Rand - Yen
0.12
-0.2%
Platinum
945.80
-0.5%
Palladium
1,014.50
-1.5%
Gold
2,384.14
+0.2%
Silver
28.34
+0.4%
Brent Crude
87.11
-0.2%
Top 40
66,843
-0.5%
All Share
72,887
-0.5%
Resource 10
63,141
-0.3%
Industrial 25
97,689
-0.7%
Financial 15
15,426
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Partner Content
Embrace your creativity

09 Apr

Embrace your creativity
Students, it’s time to get the best laptop and deal on Mac at iStore

05 Apr

Students, it’s time to get the best laptop and deal on Mac at iStore
Sunrises, Narnia, and hobbit money – 10 fun reasons you need to visit New Zealand

19 Mar

Sunrises, Narnia, and hobbit money – 10 fun reasons you need to visit New Zealand
Beauty24 | Let’s debunk these common skincare myths

28 Mar

Beauty24 | Let’s debunk these common skincare myths
Find more
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders
GooglePlayLink HuaweiGalleryLink AppleStoreLink
© 2024 (3.0.24094.4) 24.com. All rights reserved.
Terms and Conditions Media24 Privacy Policy Vulnerability Disclosure
Contact us Help with my subscription
Iab Logo