EOH tests shareholder faith with R500m rights issue
The group aims to raise up to R600m through the rights issue and an additional R100m in a broad-based BEE deal
17 January 2023 - 12:30
UPDATED 17 January 2023 - 19:28
Technology company EOH plans to launch a R500m equity fundraising effort next week to fix its lopsided capital structure, the latest episode in the company’s turnaround strategy that tests shareholder faith in the once high-flying IT firm.
The announcement of further details of the rights issue, scheduled to be implemented next Monday, sent shares in EOH tumbling more than 5% to just more than R3, bringing losses over the past year to about 50%...
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