Mantengu Mining has completed a rights offer raising R15 million. Of the 15 million offer shares, shareholders subscribed for 22.31% with the remaining 77.69% of the rights offer shares allocated to the underwriters.
As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 2,437,853 Investec Plc shares at an average price of 483 pence per share (LSE and BATS Europe) and 1,584,603 Investec Plc shares at an average price of R101.62 per share (JSE). Since October 3rd the company has purchased 16,6 million shares.
Shareholders of Fortress REIT have approved the change of name of the company to Fortress Real Estate Investments. The counter will trade under its new name from 4th January 2023.
Recently unbundled to Barloworld shareholders on a 1 for 1 basis, Zeda which houses the car rental and vehicle leasing brands Avis and Budget, listed on the JSE this week. The share opened at R18 but closed its first day of trade at R16.70 giving the company a market capitalisation of R3,17 billion.
The termination of the listing of Nutritional Holdings has been formally advised by the JSE and the company will become an unlisted company from December 19, 2022.
A number of companies listed on one of South Africa’s Stock Exchanges have initiated share buyback programmes and each week update shareholders. They are:
Glencore this week repurchased 10,980,000 shares for a total consideration of £59,64 million. The share repurchases form part of the second phase of the company’s existing buy-back programme which is expected to be completed by February 2023.
South32 has this week repurchased a further 1,297,187 shares at an aggregate cost of A$5,38 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 5 to 9 December, 2022, a further 3,231,452 Prosus shares were repurchased for an aggregate €206,89 million and a further 591,745 Naspers shares for a total consideration of R1,62 billion.
British American Tobacco repurchased a further 1,838,550 shares this week for a total of £60,45 million.
Two companies issued profit warnings this week: Randgold & Exploration and Ellies.
Eight companies issued or withdrew cautionary notices. The companies were: AfroCentric Investment, Trustco, Premier Fishing and Brands, African Equity Empowerment, Luxe, Afristrat Investment, Nutritional Holdings and Alviva.
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