Murray & Roberts Offer Almost Three Times Oversubscribed
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Murray & Roberts Holdings Ltd., South Africa’s second-biggest construction company, said its rights offer announced in February was almost three times oversubscribed.
Investors sought 110.5 million rights-offer shares, equivalent to 97.9 percent of the 112.8 million offered, Johannesburg-based Murray & Roberts said in a statement today. Holders of rights willing to buy more stock applied for a further 207 million shares, equivalent to 183.5 percent of the total offered. The subscription price was 18 rand a share.