Scant details on Omnia rights offer irks investors, say analysts
The listed chemicals and fertiliser maker says shareholders will decide on the R2bn rights offer on July 25
09 July 2019 - 19:57
Chemical group Omnia’s market capitalisation is now equal to the R2bn it hopes to raise in a rights offer because of a sell-off in its shares in the past two weeks. Analysts have blamed the delay in revealing the programme's details for the decline in the share price.
The listed chemicals and fertiliser maker’s shares have slumped 23.29% since June 25, when the group presented its case for the rights issue. Omnia’s shares are trading at R29.45, giving it a market capitalisation of about R2bn...
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