Nedbank Limited raises R1 billion of Tier 1 capita
Nedbank Limited raises R1 billion of Tier 1 capital
Nedcor Limited ("Nedcor")
Share code: NED
ISIN: ZAE00000487
In its trading statement of 21 November 2002, Nedcor referred to the opportunity
presented by the BoE acquisition simultaneously to change the capital mix in
favour of secondary capital, which is less expensive than traditional primary
capital.
An attractive alternative to traditional primary capital has been identified in
the form of non-redeemable non-cumulative preference shares ("the preference
shares").
Nedbank Limited is pleased to announce that in a book-building exercise among
primarily institutional investors this week, a total of R1 billion was raised
the initial offer of the preference shares.
A further R1 billion of the preference shares will now be offered to the general
public, subject to the approval of the JSE Securities Exchange SA. More details
on the preference shares and the public offer will be published during the week
commencing 25 November 2002.
Nedcor contact: Rick Tudhope (011) 295 9528.
Lead sponsor: Investec Securities, contact Robert Smith (011) 286 7326.
Date: 22/11/2002 03:30:06 PM Produced by the JSE SENS Department
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