Tag: Johannesburg Stock Exchange (JSE)

The internet giant aims to list its international internet assets on Euronext Amsterdam on 11 September. Naspers shareholders get to vote next month on the internet giant’s plan to list its international business on the Euronext Amsterdam stock exchange. It posted a circular to shareholders on Friday convening a general meeting for 23 August.

Two months into President Cyril Ramaphosa’s new government for the next five years, South Africans have been made aware of the stark reality of a higher-than-anticipated contraction in the economy in the first quarter of 2019. While the JSE all share index rebounded in June, it comes off a miserable month of May.

The group now expects to list its international internet assets on Euronext Amsterdam in September. Naspers has delayed the listing of its international internet assets on the Euronext Amsterdam stock exchange after an external service provider labelled a circular to shareholders incorrectly. The circular included a notice to shareholders convening a general meeting next Friday to approve the listing. In the printing process, the names of some shareholders were paired with the wrong addresses, which it said could have led to confusion.

The Amsterdam-listed company will have a free float of up to 27%, which Naspers believes will attract more investors to its global internet assets. Naspers plans to list its global internet assets under a new company on Amsterdam’s Euronext market on 19 July.

The JSE has published for comment proposed amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. The proposed changes take account of the public comments raised during the consultation process that kicked off in September 2018 after the JSE released a consultation paper (Paper) on 'possible regulatory responses to recent events surrounding listed issuers and trading in their shares'.

The last quarter of 2018 can be described as the worst period that investors have experienced since the global meltdown of the financial markets in 2008/9. When these moments of market correction occur, astute investors sit tight while others panic and make irrational decisions.

The unbundling and listing of MultiChoice will result in Naspers shareholders holding a direct interest in the video entertainment business. Naspers expects to unbundle and list its MultiChoice business on the JSE by the end of February if all goes according to plan. In a pre-listing statement, the global internet and media business said shares in the video entertainment business would start trading on the JSE on 27 February.

The video entertainment group says it will focus on returning its loss-making operations outside of South Africa to profitability as it prepares for a February listing. MultiChoice will list on the JSE at the end of next month in a move that will position Africa’s biggest pay-TV operator for further growth across the continent.

The automotive group says its own listing will provide shareholders with an opportunity to participate directly in its success. Motus Holdings lists on the JSE today ending a multi-year journey to create more value for shareholders of Imperial Holdings. The automotive group has been unbundled from parent company Imperial Holdings, which changes its name on 5 December to Imperial Logistics.

Nedbank Group confirmed the decision by Old Mutual Limited to implement the unbundling of a significant portion of its shareholding in Nedbank Group to OML shareholders today, Monday, 15 October, 2018 and Nedbank Group's intention to implement an odd-lot offer following the Unbundling.