Shares in Nampak rose more than 5% on Monday after Africa's largest packaging manufacturer hinted it may backpedal on its plans to tap shareholders for as much as R2 billion.
Ardagh Glass Packaging South Africa, formerly known as Consol Glass, says it will create 300 jobs once it completes its third furnace in Nigel, east of Johannesburg, to cater for a buoyant demand for glass.
Surging demand for beverage cans helped Nampak grow full-year revenue more than a fifth, but net profitability was hit by foreign exchange losses, higher interest rates and increased impairments.