Atlantic Leaf: Private placement on JSE closes

Atlantic Leaf, which is listed on the Mauritius Stock Exchange and has been granted approval by the JSE for a secondary listing on its AltX junior exchange, said yesterday its private placement to investors had closed. The private placement in South Africa raised £10 million (about R175m) through its Mauritian share register via an offer to invited investors to subscribe for 10 million Atlantic Leaf shares at an issue price payable in rand that was equivalent to £1. No new shares were placed through the company’s South African share register. The proceeds raised increased the total raised from the private placement and the various placements related to the listing of the company’s shares on the Mauritius Stock Exchange and JSE to £15.29m. The shares were untraded at R17.61 on AltX yesterday. – Roy Cokayne