Nampak gears up for R1bn rights offer
Packaging manufacturer has commitments from some major shareholders to follow their rights
29 August 2023 - 18:25
Packaging manufacturer Nampak on Tuesday advised its shareholders of its plan to go to them cap in hand for R1bn cash in a bid to resolve its debt issues.
Nampak has been battling a R5bn debt pile after an ill-fated expansion into the rest of Africa and is now preparing for huge job cuts, salary freezes and a reduction in overtime as it battles a cash crunch that has eroded its share value over the past five years...
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