Letshego seeks to raise P800m

According to the homegrown pan-African microlender, it seeks to raise P800 million from existing shareholders through a rights offer aimed at strengthening the group’s financial position, reducing holding-company debt and supporting its strategic restructuring.

Under the proposed capital raise, Letshego will offer qualifying shareholders 1.096 billion new ordinary shares at P0.73 each, on the basis of approximately one new share for every 1.985 shares held.