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Corporate finance activity of the week

Sappi, Hosken Consolidated Investments, Grand Parade Investments, Randgold and others.

Greenbay Properties announces accelerated book build

Greenbay has raised R2 billion through an accelerated book build process. The company placed 1 324 503 311 new shares at a price of R1.51 per share. The proceeds will be invested in line with the company’s investment policy.

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Sappi issues redemption notice

Sappi has issued a notice for the redemption of the $400 million 7.75% senior notes by its subsidiary Sappi Papier (SPH). The bonds mature in July 2017 but have a three-month call window at par and SPH will use its available liquidity resources to repay the notes in full on April 18 2017. 

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Hosken Consolidated Investments to change sector on the JSE

HCI will move sectors on the JSE from the Equity Investments Instruments subsector to the Speciality Finance subsector in the FTSE effective March 20 2017.

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Listing of additional NewFunds GOVI ETFs

200 000 additional NewFunds GOVI ETFs were listed this week at an average issue price of R54.17 per security. After listing, there will be 8 525 000 participatory interests in issue.

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Listing of additional CoreShares Green securities

30 000 CGREEN securities were issued this week at an average issue price of R19.30 per security. After the issue of additional securities, there will be 2 310 000 securities in issue.

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Listing of additional CoreShares Global Property securities

244 242 GLPROP securities were issued this week at an average issue price of R33.10 per security. After the securities have been issued and listed, there will be 5 465 874 securities in issue.

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Listing of additional CoreShares S&P 500 securities

95 108 CSP500 securities were issued this week at an average issue price of R31.55 per security. After the securities have been issued and listed, there will be 9 286 183 securities in issue.

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Listing of additional NewGold Palladium debentures

NewGold Palladium has issued an additional 1 100 000 debentures at an average issue price of R97.50 per debenture. After the additional issue there will be 22 784 696 NewGold Palladium debentures in issue, referencing 225 145.968 fine troy ounces of palladium.

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Four companies issued profit warning announcements

The following companies issued profit warnings this week: Randgold & Exploration, Ecsponent, Grand Parade Investments and Bell Equipment.

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Ten companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Sasfin, Extract, Rand Merchant Investment, Labat Africa, Clover Industries, Go Life International, Novus, M FiTEC International, Greenbay Properties and Indluplace Properties.

DealMakers is SA’s M&A publication.

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