INVESTMENT BANKING | EQUITY CAPITAL FUND | 19 JANUARY 2021

The Foschini Group (TFG)
– ZAR 3.95 billion Rights Offer

SHARE
Facebook
Twitter

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

Related Articles

AWARDS

Financial Mail Top Analyst Awards 2024

The annual Financial Mail Top Analyst Awards, in partnership with Iress and JSE, awards South Africa’s top analysts in the institutional stockbroking industry.

AWARDS

Financial Mail Top Analyst Awards 2023

The annual Financial Mail Top Analyst Awards, in partnership with Iress and JSE, awards South Africa’s top analysts in the institutional stockbroking industry.

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?