Strong demand pushes Tharisa to delay US$50m Karo ...

Strong demand pushes Tharisa to delay US$50m Karo bond issue

Tharisa has announced that it will delay its bond to raise US$50m by more than a week on the back of strong demand.

The bond which was supposed to close this Wednesday has been extended to December 9.

Tharisa says its subsidiary Karo Mining Holdings, which will issue the bond on the Victoria Falls Stock Exchange, has received "strong" interest from certain institutions in the final internal approval processes for participation.

It is to accommodate these potential investors and to ensure administrative processes are completed that the offer window for the application of notes in the bond has been extended.