BRIEF-The Foschini Group Targeting Gross Proceeds Of Up To R3.95 Bln Through Renounceable Rights Offer

  • Reuters
  • Stock Market News
BRIEF-The Foschini Group Targeting Gross Proceeds Of Up To R3.95 Bln Through Renounceable Rights Offer
Credit: © Reuters.

July 14 (Reuters) - Foschini Group Ltd TFGJ.J :

* TFG IS TARGETING GROSS PROCEEDS OF UP TO R3.95 BILLION THROUGH AN OFFER OF RENOUNCEABLE RIGHTS

* BOARD OF DIRECTORS AND MANAGEMENT OF TFG BELIEVE IT IS PRUDENT AND NECESSARY TO REDUCE TFG'S FINANCIAL INDEBTEDNESS

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