Engineering and construction group Stefanutti & Bressan (S&B), which plans to list on the JSE on August 3, said on Friday that its private placement had been substantially oversubscribed.
As a result, the total amount of R465-million was raised, 38 750 000 Stefanutti & Bressan shares were allocated and placed at a price of R12,00 a share.
In an earlier interview with Engineering News, S&B said it was hoping to secure a R2-billion contract to build Eskom’s first new coal-fired power station in more than two decades, dubbed Medupi, by the end of the year.
Further, S&B was taking full advantage of South Africa’s construction boom and snapping up attractive growth opportunities.
In fact, it recently bought mining and construction company ECMP, which builds slimes dams and does opencast mining.
As a result, the total amount of R465-million was raised, 38 750 000 Stefanutti & Bressan shares were allocated and placed at a price of R12,00 a share.
In an earlier interview with Engineering News, S&B said it was hoping to secure a R2-billion contract to build Eskom’s first new coal-fired power station in more than two decades, dubbed Medupi, by the end of the year.
Further, S&B was taking full advantage of South Africa’s construction boom and snapping up attractive growth opportunities.
In fact, it recently bought mining and construction company ECMP, which builds slimes dams and does opencast mining.
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Edited by: Liezel Hill
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