Products and services > Preference Share Issue > Overview Overview Features and risks   Background Standard Bank Group issued JSE listed SBPP preference shares to the value of R3 billion in July 2004 and increased the issue to R4.5 billion in May 2006. The Group wishes to issue further SBPP preference shares in November/December 2006 in order to raise additional capital for the Group as part of its capital management programme. The Group is looking to raise R500 million to R1 billion in new capital pursuant to this issue. The shares will be issued and listed on 8 December 2006. Pricing The preference shares will be issued at 70% of prime. The SBPP preference share closed on 9 November 2006 at 69.33% of prime. To check the SBPP trading price click here. Return The preference shares are expected to provide a competitive rate of regular return. At the prevailing prime rate of 12.0% and a dividend rate of 70% of prime, the preference shares are expected to provide an after tax return of 8.4%. Assuming a marginal tax rate of 40%, this is equivalent to a pre-tax return of 14.0%. Key dates Offer opens: 15 November 2006 Offer closes: 1 December 2006 (please check your stockbroker or private bank's cut-off date) Listing: 8 December 2006 For more information Read our brochure (with full terms annexed) Read our presentation Read our research   Disclaimer | Conditions of access | Privacy and security statement