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Two massive companies call it quits on the JSE

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대한민국 뉴스 뉴스

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Two companies are set to delist from the JSE, with both seeing major benefits of not being public.

The JSE has bled companies over the last several decades, dropping from 616 in 2000 to just 284 at the end of 2023.

As part of this transition, Sasfin Holdings and Sasfin Wealth Proprietary Limited, a wholly-owned subsidiary of the Company , have signed a framework agreement with Wipfin Investments Proprietary Limited, a wholly-owned subsidiary of Women Investment Portfolio Holdings Limited and Unitas Enterprises Limited.

Wipfin and Unitas each propose subscribing for an 8.8% shareholding in Sasfin Wealth, with the funds from the proposed Subscriptions for Cash enabling Sasfin Wealth to offer shareholders a price of R30.00 per ordinary share in Sasfin Holdings—higher than the current R26.00 share price. Enhance the ability to effectively execute Sasfin Holdings’ strategy, which envisages further strategic action being easier to achieve in an unlisted environment;

Support the growth of Sasfin Wealth with material commitments by Sasfin Holdings’ two largest Shareholders and the management of Sasfin Wealth.In addition, IAB plans to acquire the remaining ordinary shares in Bell Equipment, which it does not already own.

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