25-May-2010 9:31 AM

Comair announces results of rights offer

Comair raised ZAR124.5 million (USD15.8 million) through a fully underwritten renounceable rights offer of 69.2 million new Comair ordinary shares of ZAR1 cent each. Rights offer shares were issued at a ratio of 14 for every 100 Comair ordinary shares at a subscription price of ZAR180 cents (USD22.8 cents) per rights offer share. 64.4 million rights offer shares were subscribed for, with 4.5 million shares allocated to BB Investment Company, the offer underwriter. [more]