Johannesburg - Curro Holdings [JSE:COH], an operator of private schools in South Africa, plans to raise R1.44bn ($124m) from debt markets and a rights issue as it seeks to develop new institutions and explore potential acquisitions.
Shareholders will be offered the right to buy one share for every 11 they already own at R25 each, the Cape Town-based company said in a statement on Tuesday. The stock closed at R33.14 the previous day.
About R740m will be raised from the rights issue and a further R700m from debt markets.