Aviation group 1time has announced it had raised R65 million in new capital through the sale of a 25% stake to two black economic empowerment (BEE) groups, Mtha Aviation and SKMT Sunrise Investment Group. The airline will issue 70-million shares at about 93c a share, increasing the number of shares in issue to 280-million. The stake will be held through a newly incorporated company, Oakleaf Investment Holdings, with Mtha holding a 83% stake in Oakleaf and Sunrise 17%. Oakleaf will fund the issue of new shares through the issue of 1000 preference shares to an undisclosed funder for a consideration
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