According to the operators statement, together with the listing, TPC plans to offer Cell C shares it owns to select investors to raise about $445 million, including an overallotment option of about $28.9 million and an allocation of up to $139 million to a Black Economic Empowerment vehicle. Proceeds will be used to settle debt, pay dividends and fund working capital. Cell C will not receive any proceeds from the sale.
–Reuters–
