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Business / Economics

Paratus Namibia Holdings doubles market capital with N$ 600 million raise

todayMay 16, 2024 43

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Paratus Namibia Holdings Limited (PNH) has successfully raised over N$600 million through its recent Rights Issue and investment drive. The capital infusion has effectively doubled the company’s market capital on the NSX.  The company says the raised capital was sourced from a diverse group of investors, including the Paratus Group (61,9%), Paratus employees (2,6%), institutional investors (34%), and retail investors (1,5%). Paratus Namibia Managing Director Andrew Hall adds that the company also intends to improve its efficiency by sharing infrastructure, implementing advanced technologies in its network, and enhancing business enablement and operational support systems. By promoting an agile digital organisational culture and optimising the management of essential resources such as staff and infrastructure.

 

 

The funds will be dispersed to expand Paratus Namibia’s existing offerings by improving its core systems and infrastructure. The investment will enable the company to adapt and transform its business model to meet the demands of customers and the market while optimising capacity utilisation, leveraging economies of scale, and generating increased returns from its current asset base.

 

Written by: Tonata Kadhila

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