Nampak shares plunge as rights issue nears
Slump largely attributed to trading in nil-paid letters ahead of the packaging group’s R1bn capital raise
06 September 2023 - 18:43
As expected, Nampak shares plunged by as much as a quarter as shareholders began trading its nil-paid letters of allocation in the run-up to a R1bn rights offer on September 11.
After trading as low as R216.50, the packaging manufacturer’s stock ended the day down 22.6% at R226.49...
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