SA private school demand spurs R740-million rights offer 

(Reuters) - South Africa's private school firm Curro Holdings said on Monday it has raised R740-million rand ($62- million) in a fully-subscribed rights offer to pay for new schools. There has been surging demand for private schools from many middle-class parents.

Public education in Africa's most advanced economy was ranked among the worst in a survey by the World Economic Forum last year. SA spends more per capita on education than any other African country but its public schools are frequently criticized for poor standards of teaching, lack of equipment and overcrowding, leading to low exam pass rates.

The private school firm, which runs about 40 schools, was under scrutiny in January over allegations of racially segregating classrooms at one of its schools but the company denied the accusations.

Shares in the company are up 26 percent so far this year. There was a slight fall after the announcement.