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Corporate finance activity of the week

Investec Australia Property Fund, Stenprop, new JSE listings and more.

Investec Australia Property Fund’s Rights Issue

A maximum of 59,566,747 shares will be issued in terms of the Rights Offer at the issue price of R11.50 per share, to raise approximately R690 million.

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enX specific issue of shares for cash

enX is to issue 7,629,694 shares for a subscription amount of R17,47 million. The shares will be issued to shareholders of Wild Rose Management, as per an agreement dated April 2013.

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Listing of additional Satrix Fini securities

Satrix Fini has issued an additional 23,000,000 securities this week at an average issue price of R13.75 per security.

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Investec Australia Property Fund Rights

The company is to undertake a partially underwritten rights offer to raise up to R690 million through the issue of 59,566,747 new units. The issue price will be R11.58 per rights offer unit.

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Results of Stenprop’s scrip distribution alternative 

Stenprop has issued 3,253,857 new ordinary shares to shareholders electing not to receive a cash dividend. Following the issue of the new shares, the total issued share capital of the Company will increase to 282,974,799.

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Repurchase of shares by Tiso Blackstar

The company has announced the repurchase of a further 20,000 shares this week at an average price of R8.30.

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Listing on the JSE

Newpark REIT is to listed on the JSE on February 3, 2016. The company has raised R62,5 million by way of a private placement of 10 million shares at R6.25.

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Profit warning announcement

The following two companies issued a profit warning this week: Anglo American Platinum and PPC.

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Seven companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Astrapak, Quantum Foods, Huge Group, Blue Label Telecoms, Winhold, Tower Property Fund and Kumba Iron Ore.

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