November 3, 2015 / 10:28 AM / 2 years ago

BRIEF-Stellar Capital plans R400 mln rights issue

Nov 3 (Reuters) - Stellar Capital Partners Ltd :

* Company has resolved to raise R400 million in terms of rights issue

* Offer at an issue price of R2.30 per Stellar Capital share

* Issue will consist of an offer of 173,913,044 new shares in ratio of 23.14079 new shares for every 100 Stellar Capital shares held

* Titan Financial Services Proprietary Ltd and nominated entities and Asgard Capital Assets Ltd have irrevocably committed to subscribe for a maximum subscription of R125 million

* R275 million balance of rights issue is underwritten by Thunder Capital Proprietary Limited and Anchor Capital Proprietary Limited Source text for Eikon: Further company coverage: (Bengaluru Newsroom +91 80 6749 1136)

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