Grindrod: R4bn issue to help fund expansion

Comment on this story

Grindrod would issue up to R4 billion worth of new shares to fund the expansion of its port, terminal and rail capacity, the listed logistics company said on Friday. Grindrod, which is involved in shipping and freight handling, plans to spend a total of R10bn over the next three years on expansion, funded by debt and equity. It said in a statement that it would receive net cash proceeds of up to R3bn from issuing the new shares. The company’s shares dipped 1.4 percent to close at R26.10 on Friday. – Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines