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News PPC considers US$68.7m rights offer

PPC considers US$68.7m rights offer

Written by Global Cement staff 14 August 2020
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South Africa: PPC has said that it may issue a rights offer for US$68.7m-worth of shares in order to raise funds to ‘repay and restructure debt locally and in other African markets, and to refinance after the economic effects of the Covid-19 pandemic.’ Pretoria News has reported that PPC has forecasted a 20% year-on-year drop in earnings in the year to 31 March 2020 due to ‘a slump in domestic demand and an influx of cheaper Chinese imports, even prior to lockdown.’

Last modified on 19 August 2020
Published in Global Cement News
Tagged under
  • South Africa
  • PPC
  • rights
  • Shares
  • Debts
  • coronavirus
  • lockdown
  • demand
  • China
  • Import
  • Forecast
  • GCW469

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