Cell C Holdings has opened its offer for up to 173.4-million of its shares ahead of its listing on the JSE later this month.
In a prelisting statement on Thursday, the group said it planned to raise gross proceeds of up to R6.5bn in a private placement to selected qualifying investors.
It aims to sell up to 173.4-million shares and up to 9.52-million overallotment shares, collectively representing up to 53.8% of the company’s total issued share capital.
The offer price ranges between R29.50 and R35.50 per share.
The offer opens today and will close on November 21, with admission to the JSE expected on November 27, it said.
Read more here.
With Mudiwa Gavaza
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