This week Vukile Property Fund successfully undertook an equity capital raise of R2,65 billion, up from the initial R2 billion announced, representing 10% of the company’s market capitalisation. Vukile will issue c.124,5 million shares which were placed at a price of R21.30 per share representing a 4.8% and 4.3% discount to the pre-launch Vukile closing price and 10-day VWAP respectively on 15 October 2025. The proceeds of the bookbuild will enable Vukile to capitalise on accretive opportunities in the deal space.
Orion Minerals has issued 290,239,214 shares at an issue price of 1.5 cents to raise A$4,35 million. This finalises the issue of shares under the first stage of the placement. The second stage of the placement which involves the issue to its chairman, is subject to shareholder approval on 27 November 2025.
ASP Isotopes which took a secondary inward listing on the JSE in August 2025, following the offer to Renergen shareholders, is to raise c.$210,3 million in an underwritten public offering. The company has granted the underwriters a 30-day option to purchase c.$31,5 million of additional shares. The proceeds will be used for general corporate purposes.
Anglo American has purchased 71,444 shares on behalf of its shareholders in terms of its Dividend Reinvestment Plan (DRIP). 46,632 shares were acquired at an average price of £27.69 per share for electing shareholders on the UK register and 24,812 shares on behalf of shareholders on the South African register at an average price of R649.59 per share. Shareholders on the Botswanan register did not participate.
In terms of its Dividend Reinvestment Plan (DRIP) Mondi has, on behalf of shareholders electing this option, purchased 181,725 shares in the market at an average price of £10.15 per share and 186,886 shares in the local market at an average price of R237.78 per share.
Universal Partners has issued 69,658 shares by way of consideration issue for the part settlement of the carry fee owed to Argo Investments Managers in relation to the disposal of the Company’s investment in YASA.
Southern Palladium has requested a trading halt on ASX pending an announcement due on 20 October regarding a capital raising to be undertaken by way of a share placement and share purchase plan. The JSE has not declared a corresponding trading halt.
Trustco has renewed its cautionary notice advising that the company is to appoint an independent expert to prepare a fairness opinion for delisting purposes.
Shareholders have voted in favour of the change in name of the company from PBT Group Limited to PBT Holdings Limited. The special resolution for the name change will be lodged with the Companies and Intellectual Property Commission.
The JSE has informed Telemasters’ shareholders that the company had failed to submit its annual financial statements timeously and that its shares are under threat of suspension. If the company fails to submit these by 1 November 2025, its listing may be suspended.
This week the following companies announced the repurchase of shares:
Combined Motor Holdings is to undertake a repurchase of shares programme. The decision stems from surplus funds and low interest rates with directors of the view that returning the surplus to shareholders by way of a pro rata share repurchase offers the most optimal use of the funds. The repurchase programme will be restricted to a maximum number of 11,220,000 shares, representing 15% of the company’s total present issued ordinary shares.
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 1,739,172 shares were repurchased for an aggregate cost of A$5,43 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 506,500 shares were repurchased at an average price per share of £3.93 for an aggregate £1,99 million.
Glencore’s current share buy-back programme plans to acquire shares of an aggregate value of up to US$1 billion. The shares will be repurchased on the LSE, BATS, Chi-X and Aquis exchanges and is expected to be completed in February 2026. This week 10,800,000 shares were repurchased at an average price of £3.57 per share for an aggregate £38,51 million.
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 733,248 shares at an average price of £38.12 per share for an aggregate £27,95 million.
During the period 6 to 10 October 2025, Prosus repurchased a further 1,264,403 Prosus shares for an aggregate €77,34 million and Naspers, a further 1,168,469 Naspers shares for a total consideration of R1,49 billion.
One company issued a profit warning this week: Santova.
During the week two companies issued or withdrew a cautionary notice: Combined Motor Holdings and Trustco.
DealMakers is SA’s M&A publication.
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