PSG tightens grip on Curro after R1.5bn rights offer
About 15% of shareholders did not follow their rights in share offer, leaving underwriters to take up the remaining scrip
07 September 2020 - 11:12
UPDATED 07 September 2020 - 11:40
Investment heavyweight PSG Group has tightened its grip on independent schools network Curro after nearly 15% of subscribers shunned a R1.5bn share sale by the private education group, forcing underwriters such as PSG to take up the shortfall.
The rights offer, priced at a 10% discount to the volume-weighted average price of the stock up to the close of business the day before the announcement, came at a time when PSG was looking to increase its holding in underlying companies after hiving off its biggest money-spinner Capitec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.