INVESTMENT BANKING | EQUITY CAPITAL FUND | 19 JANUARY 2021 The Foschini Group (TFG) – ZAR 3.95 billion Rights Offer Absa | Corporate and Investment Banking > Insights and Events > The Foschini Group – ZAR 3.95 billion Rights Offer SHARE The Foschini Group (TFG) – ZAR 3.95 billion Rights Offer TFG is a JSE listed fashion retailer with more than 4,500 outlets and over 34,000 employees in 32 countries across five continents. In August 2020, TFG raised ZAR 3.95 billion via a fully underwritten renounceable rights offer as a COVID-19 prudent measure to reduce indebtedness and provide capacity for its growth strategy. During the successful rights offer, TFG announced its acquisition of the JET business from Edcon proving TFG with a strategically important expansion into the value segment of the South African retail apparel market which along with the well timed rights offer was well received by investors. Absa acted as joint global coordinator and joint underwriter for the ZAR 3.95 billion rights offer Contact: Samira Hassanally, Head of Equity Capital Markets to find out more https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles GLOBAL MARKETS A Different Kind of Debt Instrument The South African government recently issued a new floating-rate note. What does it offer, and what does the market reaction reveal about the state of local credit markets? Read more AWARDS Financial Mail Top Analyst Awards The Financial Mail Top Analyst Awards provide that ranking. The awards – which mark their 46th year in 2022 – are based on a survey that provides a reliable and independent ranking of skills in the industry. Consulting firm Intellidex conducts that survey through confidential questionnaires that cover about 90% of South Africa’s institutional stockbroking market. Read more EVENT Expanding skywards requires growth experts Future-proof organisation need sustainable solutions. This is why we’re proud to sponsor this year’s The East Africa Property Investment (EAPI) Summit. This year’s event marks the first in-person conference of industry leaders in two and a half years. It’ll feature keynote addresses, interactive panel discussions, case studies and formal and informal networking opportunities. Read more
