Further details on the Boxer Retail listing have been released by Pick n Pay. The listing on the JSE and A2X is expected in the latter part of 2024. The group intends to raise, via an offer to select investors, close to R8 billion. The offer is expected to include an overallotment option which is unlikely to exceed R500 million and will be settled by the issue of additional newly issued shares.
This week the following companies repurchased shares:
Anheuser-Busch InBev has announced a US$2 billion share buyback programme to be executed within the next 12 months which will result in the repurchase of c.31,7 million shares. The shares will be acquired as treasury shares to fulfil future share delivery commitments under the group’s stock ownership plans.
Hammerson plc continued with its programme to purchase its ordinary shares up to a maximum consideration of £140 million. The sole purpose of the buyback programme is to reduce the company’s share capital. This week the company repurchased 720,929 shares at an average price per share of 307.04 pence per share.
South32 announced in its annual financial statements released in August that it would increase its capital management programme by US$200 million, to be returned via an on-market share buy-back. This week 1,275,592 shares were repurchased at an aggregate cost of A$4,75 million.
In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 449,118 shares at an average price of £26.64 per share for an aggregate £11,96 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 21 – 25 October 2024, a further 2,663,265 Prosus shares were repurchased for an aggregate €104,36 million and a further 248,234 Naspers shares for a total consideration of R1,03 billion.
Two companies issued profit warnings this week: enX and Transaction Capital.
During the week, two companies issued cautionary notices: Finbond and Astoria Investment.
DealMakers is SA’s M&A publication.
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