Tiger places 10m shares in Adcock

Johannesburg - Tiger Brands said on Tuesday it is launching an accelerated bookbuild placing of 10.327 million ordinary shares of Adcock Ingram Holdings to global and South African institutional investors.

Deutsche Securities will act as sole global bookrunner for the placing.

The book for the placing will open with immediate effect and pricing and allocations are expected to be announced as soon as practicable following the closing of the book.

The proceeds and the placing price will be decided at the close of the accelerated bookbuilding period following agreement between Tiger Brands and Deutsche Securities.

Tiger Brands said a further announcement will be made at that time. The timing of the closing of the book, pricing and allocations may be amended at the absolute discretion of Tiger Brands and Deutsche Securities.

- I-Net Bridge