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Business / Economics

Trustco Converts Debt to Equity, Plans $100 Million US Capital Raise

todayJune 12, 2024 34

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Trustco Group Holdings Limited is converting 4.4 billion Namibian Dollars of debt into equity, setting the stage for a planned $100 million US capital raise. This involves exchanging debt owed to Next Capital and Dr. Quinton van Rooyen for new Trustco shares at a premium, anticipated to enhance Trustco’s net asset value by approximately 1.5 billion Namibian Dollars. Deputy CEO, Quinton Van Rooyen Junior provided insights into the development.

 

Written by: Leonard Witbeen

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