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Corporate finance activity of the week

Steinhoff, Richemont, Sibanye Gold, South32 and more.

Steinhoff International considers listing African retail assets 

The company is evaluating and initiating steps to establish the separate listing of its African retail businesses on the main board of the JSE. The listing will include a capital raise to achieve the required shareholder spread. Listing is expected to be completed in the third quarter of 2017.


Richemont announces a share buy-back programme 

The company has announced a new programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next three years, representing 1.7% of the capital and 1.0% of the voting rights of the company.


Sibanye Gold announces rights offer terms 

The company proposes to raise $1 billion from qualifying shareholders at $0.86 (R11.28) per share. The offer will open on May 29 and close on June 9 2017.


South32 repurchases shares 

The company has repurchased this week 9 107 807 shares for A$24.40 million (R236.7 million).


Listing of additional Satrix Property securities 

100 000 securities were issued at R22.19 per security. After the additional issue there will be 1 771 525 Satrix Property securities in issue.


Listing of additional PropTrax Ten securities 

100 000 additional PropTrax Ten securities were issued and listed this week at an issue price of R21.12 per security. Following the listing there will be 14 425 000 securities in issue.


Listing of additional Satrix 40 securities 

1 000 000 additional Satrix 40 securities were issued and listed at an issue price of R47.83 per security. Following the listing there will be 151 491 991 Satrix 40 securities in issue.


Listing of additional CoreShares S&P 500 securities 

567 698 CSP500 securities were issued this week at an average issue price of R31.87 per security. After the securities have been issued and listed, there will be 11 137 497 securities in issue.


 10 companies issued profit warning announcements 

The following companies issued profit warnings this week: Nutritional Holdings, Taste, Niveus Investments, Total Client Services, Gemgrow, Famous Brands, Hulisani, Aveng, Lewis and Spanjaard.


 10 companies either issued, renewed or withdrew cautionaries 

The following companies advised shareholders: Tharisa, eXtract, Accentuate, Moneyweb, African Media Entertainment, Pembury Lifestyle, Steinhoff International, Group Five, Hospitality Property Fund and BSI Steel. 

DealMakers is SA’s M&A publication.

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