Tag / rights issue
Discovery announces capital raise to purchase majority stake in credit card partnership and expansion of life protection business in the UK
Press releases • Mar 10, 2015 11:56 GMT
Discovery Limited today announced details of the Group’s intention to raise capital to the amount of R5 billion through a fully underwritten, renounceable rights issue. Proceeds of the rights issue will be used to fund growth in adjacent financial markets in South Africa, and to drive further growth in its high-potential protection business in the UK, VitalityLife.