Mercantile Investments and Finance PLC (MI Finance) concluded its Rights Issue oversubscribed, raising Rs 1.1 billion in new capital, as applications outpaced the initial share offering. 

Mercantile Investments Managing Director Gerard Ondaatjie, expressed his appreciation for the continued trust and support placed in the organisation. He said: “The strong response to our Rights Issue highlights confidence our shareholders place in MI Finance’s strategy and long-term vision. With a stronger financial foundation, we are well positioned to pursue new opportunities and deliver sustainable growth and lasting value for all stakeholders.”

First Capital Advisory Services (Pvt) Ltd acted as Advisor and Manager to the Issue, while SSP Corporate Services (Pvt) Ltd served as Registrar to the Issue.