SA builder plans R2bn rights issue

31 Jan 2012

Murray & Roberts Holdings, a Johannesburg-listed construction firm, said on Tuesday that it plans a R2bn ($256m) rights issue to support its balance sheet, repay debt and fund growth after a restructuring of its debt.

It called a shareholder meeting for February 29 to get approval for the deal. JP Morgan and Standard Bank are joint global co-ordinators but there is no stand-by underwriting agreement. Terms will be set after the shareholder meeting.

The company’s shares fell 4% on Tuesday after the announcement, giving ...

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