Infrastructure and resources group Aveng has said that, after a well-subscribed rights offer earlier in March that brought in R392m, it will ask shareholders for another R100m to improve its access to cash and fund its growth prospects.

Aveng had been seeking to raise R300m through its right offer, but raised R392m, saying it had seen “much higher than anticipated interest”, while some shareholders had indicated their willingness to provide further capital...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now