Pepkor to raise capital to support balance sheet
Proceeds will be used to help the group reduce its gearing level and hedge against coronavirus fallout
Retailer Pepkor plans to raise as much as R2bn to help it strengthen its financial and liquidity position to hedge against the economic pressures brought on by the Covid-19 pandemic.
Pepkor said on Tuesday the proceeds from the capital raise will be used to help it reduce its current gearing level. ..