INVESTMENT BANKING | EQUITY CAPITAL FUND | 19 JANUARY 2021

The Foschini Group (TFG)
– 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.

Related Articles

EVENT

16th edition of the India –Africa Agriculture and Allied services conclave

Absa will participate and sponsor the 16th edition of the India –Africa Agriculture and Allied services conclave, which will be held in September 2021.

EVENT

16th CII-EXIM Bank Conclave on India-Africa Project Partnership

Proud Sponsors and Participants of the 16th CII-EXIM Bank Conclave.
The CII Exim Bank Conclave on India Africa Project Partnership is an insightful annual event that brings together renowned senior ministers, policymakers and business leaders across different sectors from Africa and India. This event has successfully created access between Indian and African businesses and governments and continues to promote thriving opportunities between these two regions. This year Absa will be sponsoring three virtual events.

EVENT

African Continental Free Trade Area

The AfCFTA will unite all 55 member states of the African Union, bringing together the world’s largest working-age population to create an amazing platform that will empower global businesses, and help them find fruitful financial opportunities.

EVENT

The Case for Investing in South Africa

South Africa has a positive investment story to tell, and foreign investors are ready to listen. That’s the resounding message from the SA Tomorrow Virtual Conference, held in mid-June 2021.