African Rainbow Capital Investments announces R750m rights offer
Proceeds will be ploughed into the group’s ARC Fund to beef up investment in companies including Rain and TymeBank and to finance possible acquisitions
African Rainbow Capital (ARC) Investments wants to raise R750m in a rights offer to finance the capital requirements of its ARC Fund’s existing portfolio companies and future possible acquisitions.
The company, which has investments in wireless data services company Rain and digital banking group TymeBank via the ARC Fund, said on Tuesday it will offer 150-million new ordinary shares at R5 apiece...
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