https://www.engineeringnews.co.za

Aveng plans another R100m rights offer

6th April 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

International infrastructure and resources company Aveng intends to launch a further co-underwritten, renounceable rights offer to raise an additional R100-million from shareholders.

Aveng, however, requires the approval of its shareholders to proceed with the rights offer and will be convening an extraordinary general meeting on May 5.

The additional capital follows an initial R300-million rights offer last month, during which “certain shareholders of the company indicated a willingness to provide further capital to support the company”.

While such additional capital was not anticipated at the time of developing the balance sheet restructure transaction, Aveng said on April 6 that the additional capital would provide the company with an opportunity to further solidify its balance sheets, accelerate its business plan and fund identified growth opportunities that will provide “attractive” returns, mainly in the Moolmans business.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 1.193s - 122pq - 2rq
Subscribe Now