EOH has announced that its rights offer has successfully concluded, raising R500 million from shareholders to add to the R100 million it raised from Lebashe Investment Group.
EOH has raised R500 million from shareholders through a rights offer in which it issued 384,615,384 new shares for R1.30 each.
The rights offer closed at noon on Friday, 10 February 2023, and EOH said it was significantly oversubscribed. “Today EOH celebrates a watershed moment, bringing to a close a long and difficult chapter in our history. We are delighted that in this difficult environment our rights issue has been oversubscribed,” said EOH CEO Stephen van Coller.
Van Coller said over 90% of shareholders followed their rights, and excess applications totalled R220 million.
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