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.

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This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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