Gijima to raise R100m to underpin next stage of turnaround

Information and communication technology services group Gijima on Tuesday announced that it would undertake a rights offer and restructure its existing trade receivables securitisation funding programme to ensure that it had sufficient working capital to underpin the next stage of its turnaround strategy. Gijima said that it would raise R100-million by offering one-billion shares at a subscription price of 10c a share in the ratio of 503.9867 rights offer shares for every 100 shares held at the close of business on the record date for the rights offer.