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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now