Willdale lists $3,2m preference shares

HARARE - Listed bricks manufacturer Willdale Limited yesterday listed its preference shares on the Zimbabwe Stock Exchange.

The company recently raised $3,2 million in a rights offer which saw 10 percent semi-annual redeemable cumulative preference shares being snapped up at a subscription price of a $1,00 each.

Willdale sought capital to restructure its balance sheet and finance the acquisition of equipment to consolidate its brick manufacturing operations.

Old Mutual Life Assurance Company Zimbabwe underwrote the rights issue.

The recapitalisation is expected to boost production, which,
according to the company has been “curtailed, by worn out plant and equipment and the unavailability of requisite machinery”.

As at September 2013, the company was indebted to the tune of $6,65 million.

Comments (1)

FOR SALE HP TONER CARTRIDGES 05A, 10A, 11A, 12A, 13A, 15A, 24A, 35A, 36A, 49A, 51A, 53A, 55A, 61A, 64A, 70A, 78A, 80A, 85A, 90A, AND MANYMORE 0772 678 311

GALLERYCARTRIDGES - 13 June 2014

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.