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Browsing: What is the effect of rights issue on company shareholding
- Econet Wireless Zimbabwe is Zimbabwe’s largest provider of telecommunications services.
- The financing is aimed at redeeming the outstanding debentures in the capital of both companies.
- EcoCash Holdings Zimbabwe is the ninth most traded stock on the Zimbabwe Stock Exchange over the past three months
Zimbabwe Stock Exchange (ZSE) listed Econet Zimbabwe and its subsidiary, EcoCash Holdings, have announced their intention to raise US$30.3 million through a renounceable rights issue. The move is aimed at redeeming the outstanding debentures in the capital of both companies.
The recent rights issue on the ZSE is similar to the 2020 offer made by retailer Edgar’s to its shareholders.
A renounceable rights issue is a type of share offering in which existing shareholders are given the opportunity to buy new shares in proportion to their existing holdings. This means that existing shareholders can choose to buy a certain number of additional shares at a …
