Sun International launched a deeply discounted R1.2bn rights offer on Tuesday, a major part of the hotel and casino operator’s plan to survive the Covid-19 economic contagion and fend off an unsolicited offer from its Chilean partner.  

The owner of  Sun City resort in the North West province, plans to sell just more than 127-million shares at R9.44 each, a 34% discount to the company’s closing price on Monday and 25% below the theoretical ex-rights price, or the projected price of the shares after issuing the new shares...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now