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Niveus may delist after HCI offers to buyout minority shareholders

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Hosken Consolidated Investments has offered R2.40 for Niveus shares, a discount of 3% from the company's closing price on Thursday

Hosken Consolidated Investments has made a cash offer for the shares of Niveus Investments that it does not already own.

Niveus plunged 11.29% to R2.20 on Friday morning as the JSE opened, putting it on track for its worst one-day performance in three months. Its second-largest shareholder is financial services firm Legae Peresec, which holds 12.6%, according to Niveus’s 2019 annual report.

 

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