Pick n Pay has announced the terms of its rights offer to raise R4bn as part of its recapitalisation plan to get the business back to profitability.

The company will offer 252.2-million renounceable rights to subscribe for new Pick n Pay shares in the ratio of 51.11 rights offer shares for every 100 Pick n Pay ordinary shares held for a subscription price of R15.86 per rights offer share...

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