Weekly corporate finance activity by SA exchange-listed companies

MTN completes its Series 1 offer of MTN Nigeria shares

MTN (JO: MTNJ ), via a bookbuild, has completed its Series 1 offer for sale of 575 million MTN Nigeria shares to Nigerian investors. The offer was 1,2 times oversubscribed with a total of 802 million shares subscribed for by c.126,000 investors. A total of 661,25 million MTN Nigeria shares were allocated, comprising the 575 million offer shares and the 15% greenshoe of an additional 86.25 million MTN Nigeria shares.

Texton Property Fund ups it investment in an offshore access fund

Texton has, through its UK subsidiary, increased its shareholding in Blackstone (NYSE: BX ) Real Estate Income Trust iCapital Offshore Access Fund Class I with the subscription for additional shares to the value of $3,1 million resulting in a shareholding of 0.19% of the Class I shares in issue, valued at $7,5 million (R113,5 million).

Spear REIT (JO: SEAJ ) completes vendor consideration placement

Spear REIT has completed a vendor consideration placement of R253,9 million. A total of 30,230,819 new shares were issued at a price of R8.40 per share, reflecting a premium of 0.13% to the volume weighted average price over the 30 trading days up to January 28, 2022. The proceeds will be used to fund the acquisition of 27 Junction Road in Parow, Cape Town and to settle debt.

MC Mining raises capital

The company has entered into an agreement with Senosi Group Investment to raise R46m by issuing 38,363,909 shares at R1.20 per share, representing a 19.9% stake. Senosi has conditionally agreed to subscribe for a second tranche of 33,333,333 new ordinary shares raising a balance of R40 million and increasing its stake in the company to 31.7%. The first tranche funding will be used to settle the balance owing to the vendors of the Lukin and Salaita properties. The second tranche funding will be used to advance development of the Makhado hard coking coal project.

AECI repurchases shares

The company has repurchased 4,426,604 AECI ordinary shares from the AECI Community Education and Development Trust for no consideration. The shares represent 4.02% of the total number of issued shares. The shares were placed as part of the company's 2012 BEE transaction. The shares will be delisted.

Quilter share buyback programme update

Quilter has closed its programme of returning 375 million to shareholders. Repurchases of 213,9 million were conducted on LSE and 161,1 million on JSE. In aggregate 264,1 million shares acquired and cancelled at an average price of 141.97 pence per share.

Prosus (JO: PRXJn ) repurchases additional shares

Prosus has, this week, purchased a further 1,426,139 ordinary shares N for a total consideration of "101,4 million.

Anglo American (JO: AMSJ ) repurchases shares

The company repurchased a further 863,300 shares at a cost of 28,8 million.

BHP Group (JO: BHPJ ) Limited lists on JSE

Following the sanction of the BHP unification on January 28, 2022, BHP Plc shareholders received one New Limited share for each PLC share held. The closing price of BHP Limited which listed on the JSE on January 31 was R489.58 with a market capitalisation of R2,48 trillion.

Wescoal to change its name

Subject to shareholder approval, Wescoal proposes to change the company's name from Wescoal to Salungano Group. The share code will change to SLG but the company will remain listed in the Mining - Coal subsector of the main board of the JSE.

This week three companies issued a profit warning announcement

The following companies issued profit warnings: Trustco, Anglogold Ashanti and DRDGold

11 companies either issued, renewed or withdrew cautionaries this week The following companies advised shareholders: Hyprop Investments (JO: HYPJ ), Stor-Age Property REIT, Arden Capital, Oceana (JO: OCEJ ), Irongate, Zeder Investments (JO: ZEDJ ), Onelogix, Ascendis Health (JO: ASCJ ), Santam (JO: SNTJ ), Sanlam (JO: SLMJ ) and Bauba Resources.

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