Visual International has received applications as a result of its bookbuild process for the issue of 85,281,513 shares at a discounted issue price of 2 cents per share. The R1,71 million raised will be used to assist with the company’s working capital requirements.
Last week Africa Bitcoin announced the results of its capital raise, placing 368,598 ordinary shares at an issue price of R11.00 raising R4,05 million. The funds have been used in part to fund the acquisition of 1.5000 BTC for an aggregate cash consideration of R2,77 million. The company now holds 2,51164 BTC with an aggregate acquisition value of R4,59 million.
In terms of its Dividend Reinvestment Plan (DRIP) Hammerson has, on behalf of shareholders electing this option, purchased 156,713 shares in the market at an average price of £2.98 per share and 144,346 shares in the local market at an average price of R69.49 per share.
Further details on the proposed listing of Cell C were released. The listing will be accompanied by an offer to qualified investors by way of a private placement of existing shares by The Prepaid Company (TPC), a subsidiary of Cell C’s largest shareholder Blu Label Unlimited, to raise R7,7 billion. This includes a R500 million overallotment option. Up to R2,4 billion worth of shares will be allocated to a black empowerment vehicle. Following the flip-up, TPC will transfer shares to Cell C executives resulting in management collectively holding 4.5% of the company. The proceeds raised will be allocated towards settling certain of TPC’s interest-bearing borrowings and other debt obligations. The offer and listing will provide Cell C with access to capital markets, to support and develop further growth of the company and to finance acquisitions and investments in businesses, technologies, services, products, software, intellectual property rights, spectrum and other assets.
Suspended Wesizwe Platinum has advised that the publication of the interim financial statements for the six months ended 30 June 2025 has been deferred. The delay arises from the late finalisation of the annual financial statements for the year ended 31 December 2024, released in September, which was impacted by the reported cyber breach. The company expects the release of its interims by 31 January 2026.
This week the following companies announced the repurchase of shares:
On 19 February 2025, Glencore announced the commencement of a new US$1 billion share buyback programme, with the intended completion by the time of the Group’s interim results announcement in August 2025. This week the company repurchased 7,200,000 shares at an average price per share of £3.62 for an aggregate £26,05 million.
South32 continued with its US$200 million repurchase programme announced in August 2024. The shares will be repurchased over the period 12 September 2025 to 11 September 2026. This week 354,085 shares were repurchased for an aggregate cost of A$1,12 million.
The purpose of Bytes Technology’s share repurchase programme, of up to a maximum aggregate consideration of £25 million, is to reduce Bytes’ share capital. This week 215,400 shares were repurchased at an average price per share of £3.69 for an aggregate £795,686.
In May 2025, British American Tobacco extended its share buyback programme by a further £200 million, taking the total amount to be repurchased by 31 December 2025 to £1,1 billion. The extended programme is being funded using the net proceeds of the block trade of shares in ITC to institutional investors. This week the company repurchased a further 592,853 shares at an average price of £39.95 per share for an aggregate £23,62 million.
During the period 27 to 31 October 2025, Prosus repurchased a further 1,017,081 Prosus shares for an aggregate €61,83 million and Naspers, a further 377,261 Naspers shares for a total consideration of R475,58 million.
Two companies issued a profit warning this week: Oceana and enX.
Five companies issued or withdrew a cautionary notice: ISA Holdings, EPE Capital, ArcelorMittal South Africa, Kore Potash and Sable Exploration and Mining.
DealMakers is SA’s M&A publication.
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