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Building|Industrial
Building|Industrial
building|industrial

Afrimat raises R680m in accelerated bookbuild

29th July 2022

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

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JSE-listed building materials, industrial minerals and bulk commodities company Afrimat has successfully closed an equity raise of R680-million – about 8.5% of its current market capitalisation.

Following strong demand, Afrimat elected to increase the size of the bookbuild it announced on July 27, which remained oversubscribed at close.

As such, 13.37-million new ordinary shares were placed following the bookbuild at an issue price of R50.85 apiece, representing a discount of 7.2% to the closing price of Afrimat shares on the JSE as at market close on July 27.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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