Tough decisions ahead for Nampak as lifeline rights offer approved
Cash-raising exercise will enable further reduction of debt and recapitalise packager’s balance sheet
30 June 2023 - 13:05
UPDATED 02 July 2023 - 19:40
The leadership of Nampak has been given a fighting chance to save the 55-year-old packaging group after shareholders approved an equity fundraising plan of up to R1bn — but much work and many tough decisions lie ahead.
At a shareholder meeting on Friday, investors overwhelmingly — more than 98% — voted in favour of the proposed rights issue meant to fix the company’s lopsided capital structure...
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