RDC to raise P235m for regional expansion

Guido Giachetti
Guido Giachetti

Property development company, RDC Properties plans to raise P235 million through an issue of new linked units to shareholders to help fund its expansion plans across the Southern African region.

The company this week revealed it intends to raise the capital by way of a bonus issue as well as by way of a renounceable rights offer.

The price at which the new linked units will be offered will be P2.25 for both the bonus issue and the renounceable rights offer. A bonus issue is an issue of additional shares to shareholders instead of a dividend, in proportion to the shares already held. A rights issue is an offer for shareholders to buy additional securities in a company made to the company’s existing security holders.

Editor's Comment
Implement the recommendations Mr. President

The nation is eagerly awaiting this report to have a glimpse of what the recommendations are like, possibly for further debate. Mr. President, it’s our ardent hope that true to your promises, the public will have an opportunity to peruse the report and see if it reflects their interests as the Commission went around the length and breadth of the country collecting views of the people with some choosing to write to the Commission’s...

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