Frogfoot, Vox, Hypa secure capital injection to accelerate fibre access across South Africa
Frogfoot, Vox and its subsidiary Hypa have secured a major capital injection that will enable the acceleration of high-speed fibre broadband access to previously underserved and lower-income township communities.
The capital injection will enable Frogfoot to increase its pace of home connections fourfold to 360 000 homes a year and create more than 5 000 direct jobs in local communities.
According to a statement released by companies on Monday, the transaction implies a combined after-debt equity value of R8.4-billion for the companies and supports the ongoing participation of leadership in both companies.
The transaction includes a subscription for new shares in both Frogfoot and Vox, including its wholly-owned subsidiary Hypa, by multiple incoming investors.
