Omnia to raise R2 billion to reduce debt

Although discussions with creditors are progressing well, the chemicals and fertilizer group says it needs to reduce its debt.

Stefanutti Stocks looks for ways out of cash crunch

The construction group faces short-term liquidity pressure due to delayed payments from clients.

Life Healthcare hit by options contracts

The hospitals group entered a number of hedges when it sold its investment in India’s Max Healthcare but it says these will be offset by the...

Nampak pushes metal over plastic

The packaging group is trying to grow its share of the local packaging market by positioning cans as a better alternative.

Who’s doing what this week in the South African M&A space?

Weekly summary of M&A activity by South African companies

Who’s doing what in the African M&A space?

Weekly summary of all M&A activity from across Africa (excluding South Africa)

Strike ends at Amplats’ Mototolo mine

Fired workers will be reinstated and can make back lost income and production over the next four months.

Wescoal buys remainder of Moabsvelden coal project

The group says development activities at Moabsvelden are about to start, with the first coal expected by the end of the year.

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies

Thorts - Metro Fibre’s game changer

Metro Fibre completed a landmark strategic equity capital raise positioning it for continued growth and establishing it as a diversified telecommunications company with national operations

Naspers sets date for Euronext listing

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

Famous Brands dishes up dividend as GBK recovers

The restaurant group says sales at its UK burger chains are showing positive growth as the new year gets underway.

Pepkor gains market share on low price appeal

The retail giant says first-half sales fell short of expectations in a challenging trading environment.

Stormy weather hits Santam

The short-term insurer’s net underwriting margin has dipped below its target range following a series of catastrophes.

Two CEOs to co-pilot Comair

The aviation group has appointed joint CEOs to manage its airline and non-airline businesses following the recent resignation of Erik Venter.

Does your advisor make you money?

There is a lot of scepticism about the value of advice and financial service providers in general. Some bad brokers have earned the financial planning industry...

Arrowhead hopeful of post-election recovery

The real estate investment trust says tenants have been affected by the weak economy, resulting in higher vacancies and lower rental rates.

Insimbi trims dividend after tough year

The refractory and non-ferrous alloys group’s profitability was affected by a strike in the plastics industry as well as acquisition costs.

Naspers sets date for Euronext listing

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

Sibanye gets the nod on Lonmin deal

The transaction will create the world’s biggest primary producer of platinum and help sustain Lonmin’s operations.

MTN makes progress on asset sales

The network operator will raise R1.2 billion of its R15 billion target from the sale of its interests in Amadeus and Travelstart.

Cartrack subscriber growth accelerates

The fleet management and vehicle recovery group expects double-digit subscriber and annuity revenue growth to continue.

Astral ruffled by Lekwa water shortage

An undersupply of water to the poultry producer’s Standerton processing plant has cost it at least R85 million.

ELB cleans up after strategic review

The review was triggered by a cash crunch at Engineering Services due to delays in the final testing of its Gamsberg Zinc project.

SASSA shift delivers a blow to Finbond

The mutual bank and lender says earnings will be sharply lower after the SA Social Security Agency shifted grant recipients to a new debit card.

Telkom dials up strong 2019 growth

The telecoms operator came close to doubling the number of mobile customers using its services last year.

Reunert hopeful on a recovery in confidence

Demand at the group’s electrical engineering businesses has been subdued due to a cutback in spending by state-owned enterprises.

Dividend bonanza from ISA Holdings

The IT security specialist wants to reduce unnecessarily high cash levels following a year of strong profit growth and high cash flows.

Sun International goes for Latam jackpot

The casino and hospitality group plans to merge its assets in Latin America to create a regional giant.

Insimbi warns of lower earnings

An extended strike at its Plastics division and a new method for accounting for leases will contribute to a decline in full-year profit.

The Week Ahead of 28 May 2019

More chaos in UK politics should keep the GBP volatile.

Old Mutual shows CEO the door

The life assurer has separated with CEO Peter Moyo over what it called a breakdown in trust.

Knee-jerk reaction as Ascendis fires CEO

The shares recovered early losses to close slightly higher on Friday after declining 3.5% on Thursday on news of Thomas Thomsen’s axing.

Fortress cleared of manipulation in PwC report

The group says PwC found no evidence confirming market manipulation and insider trading but said there was evidence of inadequate governance in the past.

Afrimat progressing on Universal due diligence

The construction materials and commodities group says its diversification strategy is paying off, helping it grow full-year earnings.

Tradehold confirms listing of Collins

The property investment company says it will unbundle the SA property group by February 2022 after receiving an investment in its local property portfolio.