By successfully implementing an Australian-style Share Purchase Plan (SPP), the company has challenged the traditional, often exclusive, fundraising methods prevalent on the JSE.
The company's recent capital raise, which comprised a R91 million placement to sophisticated investors followed by a R44 million SPP open to all eligible shareholders, showcased the effectiveness of this dual-pronged strategy. While the placement catered to institutional investors, the SPP ensured that retail investors were afforded a fair opportunity to also participate in the company's growth.
The company's recent capital raise, which comprised a R91 million placement to sophisticated investors followed by a R44 million SPP open to all eligible shareholders, showcased the effectiveness of this dual-pronged strategy. While the placement catered to institutional investors, the SPP ensured that retail investors were afforded a fair opportunity to also participate in the company's growth.
This approach stands in stark contrast to the typical South African "accelerated bookbuild," which generally excludes retail investors.
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