Fairvest raises ZAR400m through accelerated book build

Fairvest Limited (JSE: FTA, FTB) announced the successful closing of its accelerated book build, raising approximately R400 million. The shares were priced at R4.70 per Fairvest B share, reflecting a discount of 1.05% to the 30-day volume-weighted average price of R4.75. A total of 85,106,382 Fairvest B shares will be issued under the company's existing general authority for cash and vendor consideration placement. The book was oversubscribed. Fairvest intends to allocate the raised funds to various capital allocation opportunities, strategically aligned and accretive to the company. Subject to JSE approval, listing and trading of the new Fairvest B shares is anticipated to commence at 09:00 on April 2, 2025. Java Capital acted as the corporate advisor and sponsor for the transaction.