Aveng to tap amenable shareholders for another R100m

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...