THE G SPOT
Omnia finds fertile ground
Bogged down in debt just three years ago, now it’s paying out chunky dividends as growth surges
Not many JSE firms have gone cap in hand to shareholders and come out the other side — but chemicals group Omnia, which scraped together R2bn from investors in 2019 at just R20 a share, is now trading at R69 a share. Half-year operating profit jumped 47% to more than R1bn and it still has cash on its books, despite having sunk billions into pricey commodities to supply customers over the past six months. The FM spoke to CEO Seelan Gobalsamy.
It’s not a given that companies will emerge successfully from highly discounted rights offers — just look at Tongaat. Did you see yourself coming out of that cash call in the way you have?..
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