Conditions for capital raising on the JSE may not be at their most conducive right now, given the stormy political and economic outlook sparked by the incarceration of former president Jacob Zuma. But last week two niche mid-cap counters raised more than R2bn in lightning-fast fashion — literally in just a few hours.

Warehousing property specialist Equites raised R1bn and specialist finance group Transaction Capital (TransCap) raised R1.17bn in accelerated bookbuild exercises that defied the overall dour mood on the market...

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