Taste Holdings asks shareholders for yet another helping
The Southern African representative of Starbucks and Domino's is asking its investors for more money for the fourth time in three years
The Southern African representative of Starbucks Coffee and Domino's Pizza is asking its shareholders for yet another refill. Taste Holdings's share price fell 18.75% to 13c on Wednesday morning after it announced yet another rights issue, hoping to raise R132m by getting its investors to subscribe for 146 rights offer shares at 10c each for every 100 shares they hold. The latest rights offer of 1.32-billion shares will more than double Taste's existing shares in issue. This number currently stands at 901.5-million and will jump to 2.2-billion. Wednesday's announcement marked Taste's fourth request to shareholders for additional funds in three years. In December 2017, Taste Holdings raised R398m by issuing 442-million shares at 90c. That rights offer came just six months after a “claw-back offer” in June 2017 in which the fast-food franchiser raised R120m by issuing 80-million new shares at R1.50 each. In October 2015, Taste raised R226m via a rights offer of 75-million new shares a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.