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Capitec share falls after news a BEE deal may dilute earnings

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Sverige Nyheter Nyheter

Capitec plans to issue a maximum of 625,000 new shares up to a value of R1bn to more than 10,000 qualifying permanent employees

Capitec’s share price dropped after the banking group indicated that a proposed B-BBEE transaction for its staff would be likely to dilute its per share earnings.

Shares in the bank, SA’s biggest retail lender by customer numbers, fell 2% to R2,061.05 as of 11.28am local time. That still left the Stellenbosch-based lender with a market value of about R246.4bn, making it the second-biggest banking group in SA after FirstRand in terms of market capitalisation...

 

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Obviously BEE are worse to business than the covid-19 to humans.

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