Cell C, in collaboration with its majority shareholder The Prepaid Company, is seeking to raise as much as R6.5 billion through a share sale ahead of its intended listing on the Johannesburg Stock Exchange. The private placement involves up to 173.4 million ordinary shares, with an additional allotment option, representing a majority of the company's issued share capital.
The offering, priced between R29.50 and R35.50 per share, is structured to include a significant allocation for black economic empowerment. This initiative is a central part of the mobile operator's strategy to strengthen its financial position after a period of restructuring.
Proceeds from the sale are earmarked for reducing debt and funding network enhancements. The move represents a pivotal phase in the company's efforts to solidify its standing within South Africa's competitive telecommunications market.
The offering, priced between R29.50 and R35.50 per share, is structured to include a significant allocation for black economic empowerment. This initiative is a central part of the mobile operator's strategy to strengthen its financial position after a period of restructuring.
Proceeds from the sale are earmarked for reducing debt and funding network enhancements. The move represents a pivotal phase in the company's efforts to solidify its standing within South Africa's competitive telecommunications market.
