Private school group Curro will ask shareholders for R1.5bn, almost half its market capitalisation, saying it wants to reduce debt and possibly make acquisitions amid Covid-19 uncertainty.
The proceeds of the capital raise will be used at least partially to reduce the group’s R3.6bn in debt, and could also see majority shareholder PSG increase its stake even further.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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