{"id":13057,"date":"2012-08-01T13:53:09","date_gmt":"2012-08-01T11:53:09","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-1-s-africas-mediclinic-to-raise-608-mln-via-rights-offer\/"},"modified":"2012-08-01T13:53:09","modified_gmt":"2012-08-01T11:53:09","slug":"update-1-s-africas-mediclinic-to-raise-608-mln-via-rights-offer","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-mediclinic-to-raise-608-mln-via-rights-offer\/","title":{"rendered":"UPDATE 1-S.Africa&#8217;s Mediclinic to raise $608 mln via rights offer"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* To issue 174.6 mln shares at 28.6 rand each<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* To use funds for refinancing, growth<\/p>\n<p> (Adds details, background)<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 1 (Reuters) &#8211; South African private<br \/>\nhospital group Mediclinic International said on<br \/>\nWednesday it plans to raise 5 billion rand ($608 million)<br \/>\nthrough a rights offer to refinance debt and to fund expansion.<\/p>\n<p><span><\/span><\/p>\n<p>Mediclinic, which operates hospitals in South Africa,<br \/>\nSwitzerland and the United Arab Emirates, said it would issue<br \/>\n174.6 million new shares at 28.63 rand per share.<\/p>\n<p><span><\/span><\/p>\n<p>That represents a 25 percent discount to the stock&#8217;s 30-day<br \/>\nvolume weighted average price.<\/p>\n<p><span><\/span><\/p>\n<p>Existing shareholders will be able to purchase 26.8 new<br \/>\nshares for every 100 held.<\/p>\n<p><span><\/span><\/p>\n<p>Mediclinic said the proceeds would be used to refinance its<br \/>\nexisting debt of about 28 billion rand, which is denominated in<br \/>\nboth the South African rand and the Swiss franc.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The refinancing provides the group with the appropriate<br \/>\ncapital structure to pursue strategic growth and development<br \/>\nopportunities, while significantly reducing financing costs,&#8221; it<br \/>\nsaid in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of Mediclinic are up 16 percent so far this year,<br \/>\noutperforming an 8.2 percent rise in Johannesburg&#8217;s All-share<br \/>\nindex.<br \/>\n($1 = 8.2151 South African rand)<\/p>\n<p> (Reporting by David Dolan)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* To issue 174.6 mln shares at 28.6 rand each * To use funds for refinancing, growth (Adds details, background) JOHANNESBURG Aug 1 (Reuters) &#8211; South African private hospital group Mediclinic International said on Wednesday it plans to raise 5 billion rand ($608 million) through a rights offer to refinance debt and to fund expansion. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13057","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13057"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}