GijimaAST says its rights offer was 51.8% oversubscribed.
The group has also announced changes to its board in the wake of the merger between AST Group and Gijima Technologies.
GijimaAST says applications were received for about 693.97 million shares. There were 457.14 million shares on offer.
It adds that about 27.07 million rights shares were allocated for excess applications.
AST has said the rights offer was necessary to reduce debt ahead of the merger.
As a result of the offer being oversubscribed, none of the underwriters were required to subscribe for rights offer shares.
At the same time, the group has announced the appointment of Gijima executive chairman Robert Gumede as an executive director of the merged entity.
Gijima financial director Carlos Ferreira has also been named an executive director, while Gijima director Nhlanhla Mhlongo has been appointed to the GijimaAST board in a non-executive capacity.
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