Dipula has successfully completed an oversubscribed accelerated bookbuild, raising R559m, surpassing its initial target of R500m.
The group launched the bookbuild on Thursday, with the offer priced at R5.43 per share, reflecting a 4.23% discount to the closing price of Dipula shares on the JSE on the same day.
The price also represents a 4.86% discount to the volume-weighted average traded price over the 30 days preceding September 4. The final placement of about 103-millionnew ordinary shares demonstrated strong investor demand.
The capital raise is part of Dipula’s growth strategy, enabling the company to strengthen its balance sheet and finance future acquisitions. Trading of the new shares is expected to begin on September 12, subject to JSE approval.
The bookbuild, was managed by PSG Capital, acting as the sole bookrunner, transaction advisor and transaction sponsor.
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