Africa Equity

PPC, the largest listed South African cement producer, has completed its fully underwritten 16-for-10 rights issue in Johannesburg, raising R4bn ($280m) to clear its debts in the wake of a downgrade by Standard & Poor’s.

PPC, the largest listed South African cement producer, has completed its fully underwritten rights issue in Johannesburg, raising R4bn ($280m) to clear its debts in the wake of a downgrade by Standard & Poor's.

Gold One Group, which produces low-cost gold in South Africa and is part of the Citic Group, is laying the groundwork for a Hong Kong listing with a preliminary filing.

The sun continued to shine on South African equity capital markets this week, despite growing political volatility.

PPC, the largest listed cement producer in South Africa, has set terms for its R4bn ($280m) rights issue after the deal was almost unanimously approved by shareholders at the start of August.

SPAR BBBEE Retailer Employee Trust and the SPAR BBBEE Employee Trust, have sold 3.8% of Spar Group, the South African supermarket chain, for R1.5bn ($108m) via an accelerated bookbuild that unwound a black economic empowerment scheme set up in 2009.

European equity capital markets remain muted ahead of what many participants expect to be an extremely busy autumn window. Yet in London, there is one live deal of substantial size progressing steadily towards completion.

Ascendis Health, the South African manufacturer of diet supplements, garden pesticides and medical equipment, has raised R1.2bn ($83m) through an oversubscribed rights issue that will enable it to complete two European acquisitions.

Ethos Capital, a permanent capital vehicle belonging to Ethos Private Equity, one of the largest private equity companies in sub-Saharan Africa, had a bumpy ride on its first day of trading on the Johannesburg stock exchange.

Shares in Marsa Maroc, the Moroccan port terminal operator and cargo handler, have risen 20% this week after they began trading on the Casablanca exchange on Tuesday following the company's Dh1.9bn ($194m) IPO.

Ethos Private Equity, the largest private equity firm in sub-Saharan Africa, has announced plans to raise up to R1.8bn ($123m) by listing a permanent capital vehicle in an IPO on the Johannesburg Stock Exchange.

Ascendis Health, the South African maker of diet supplements, garden pesticides and medical equipment, has announced the final terms of its fully underwritten R1.2bn ($83m) rights issue.