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Brainworks raises US$8mln through treasury share issue

Brainworks listed on the Johannesburg Stock Exchange through an introduction earlier in October.

picture of VIctoria Falls
Brainworks has interests in hotels in key tourist spots in Zimbabwe

Zimbabwe –based hospitality and property group Brainworks Limited (JSE:BWZ) has raised US$8.2mln following the placement of just over nine million treasury shares at R11.50 per share (US$90c).

The relevant shares will be transferred to investors on receipt of the necessary approval from the Reserve Bank of Zimbabwe, while the funds will be used to strengthen the balance sheet. 

Brainworks listed on the Johannesburg Stock Exchange through an introduction earlier in October.

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