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Corporate finance activity of the week

Life Healthcare, Sea Harvest, Tiso Blackstar, Aveng and others.

Life Healthcare releases terms of its Rights Offer 

Life Healthcare will, in terms of its rights offer, offer 367 346 939 new shares at an issue price of R24.50 per share. Brimstone Investment Corporation and Allan Gray have undertaken to subscribe for some or all of the shares representing 21.2% of Life Healthcare shares.

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Mas Real Estate raises capital via accelerated book build

Mas Real Estate has raised R1.75 billion through an accelerated book build process. The company placed 83.3 million new shares at a price of R21.00 per share. The proceeds will be used partly to fund the pipeline and to positon itself for investments as per its CEE strategy. 

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Sea Harvest issues shares prior to listing on the JSE 

Sea Harvest raised R1.33 billion through the placement of 106 333 334 shares at a price of R12.50 per share. Following the implementation of the offer the total number of shares in issue will be 251 362 907. The company listed on the Main Board of the JSE on March 23.

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Greenbay Properties to transfer listing on the JSE 

Greenbay Properties will, effective March 29, transfer its listing from the JSE’s Alternative Exchange to the Main Board. Following the transfer, Greenbay will have primary listings on both the SEM and the JSE and the company will be listed in the ‘Real Estate – Real Estate Holdings and Development’ sector of the JSE.

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Tiso Blackstar to transfer listing on the JSE 

Tiso Blackstar will transfer its secondary listing from the JSE’s Alternative Exchange to the Main Board. Following the transfer, Tiso Blackstar will have a dual primary listing on the JSE. The approval is subject to the Company’s Articles of Association being amended to comply with the JSE Regulations and the successful migration of the Company to the UK.  _______________________________________________________________________

Results of Rockcastle Global Real Estate’s scrip distribution alternative 

Rockcastle has issued 17 653 890 new shares in terms of its scrip distribution alternative. The discounted issue price of R29.81 results in the retention of R526.3 million.

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Listing of additional Satrix Property securities 

100 000 securities were issued at R21.98 per security. After the additional issue there will be 1 471 525 Satrix Property securities in issue. 

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Listing of additional Ashburton Inflation ETFs 

2 000 000 additional securities were issued and listed on March 22 at an issue price of R21.09 per security. Following the listing there will be 28 200 000 securities in issue.

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Listing of additional PrefTrax securities 

600 000 additional PrefTrax securities were issued and listed on March 17 at an issue price of R9.45 per security. Following the listing there will be 45 275 000 securities in issue.

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Listing of additional CoreShares Top 50 securities 

100 000 additional CoreShares Top 50 securities have been issued and listed on March 17 at an issue price of R20.65 per security.

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Listing of additional NewGold Palladium debentures 

NewGold Palladium has issued an additional 400 000 debentures at an average issue price of R96.00 per debenture. After the additional issue there will be 23 184 696 NewGold Palladium debentures in issue, referencing 229 096.035 fine troy ounces of palladium.

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Two companies issued profit warning announcements 

The following companies issued profit warnings this week: Ecsponent and Sentula Mining.

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Three companies either issued, renewed or withdrew cautionaries 

The following companies advised shareholders: Aveng, Hulisani and Ascension Properties.

 DealMakers is SA’s M&A publication

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