“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Petra says 95 pct of rights issue shares subscribed

03 july 2018
Petra Diamonds said it has received valid acceptances for about 95 percent of the rights issue shares offered in a five to eight rights issue announced last May.

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Image credit: Petra Diamonds


The company, which has operations in South Africa and Tanzania, had issued 332.8 million shares at 40 pence per share.
It wanted to raise $178 million to settle part of its debt, which was $622 million end of March.
Petra also said subscribers had been obtained for 16.7 million rights issue shares, which represented 5 percent of the rights issue shares at a price of 56.25p per rights issue share.
The subscribers were procured through Petra’s joint bookrunners and underwriters, which comprised RBC Capital Markets, Barclays Bank and BMO Capital Markets.
The net proceeds, it said, from the placing of such rights issue shares would be paid without interest to those persons whose rights had lapsed in accordance with the terms of the rights issue, pro rata to their lapsed provisional allotment.
It said individual amounts of less than £5 would not be paid to such persons but would be paid to the company.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished