Steinhoff: You Cannot Fool the Market … At Least Not All the Time! (BusinessReport)
On 24 October 2017 Steinhoff repurchased 78.4 million Steinhoff shares at R61.40 per share or 3.73 euros per share at the prevailing exchange rates.
It surely smacks of a put option (the right to sell shares at a given price) that was exercised against Steinhoff or one of its special purpose entities.
Was it an option that was part of the PIC-backed Lancaster 101’s purchase of Steinhoff shares from Steinhoff itself? READ MORE
- How Big is Africa’s Car Market? (African Executive)
- Mining’s Iron Grip on the South African Economy (Reuters)
- South Africa: Too Soon to Jump for Joy (BNP Paribas)
- Lira and Rand Among the Latest “Hot” Emerging Market Currency Bets (WSJ)
- Psigma’s Gregory: Avoid Economies With Current Account Deficits (FE Trustnet)
- ‘Africa’s Ikea’ Steinhoff to Buy Sleepy’s Owner Mattress Firm for $2.4 Billion (WSJ)
- China’s Gung-ho Foray Into Africa Gets a Reality Check (Bloomberg)
- Naspers’ Tencent Stake Drives the MSCI South Africa Index’s Returns (KraneShares)
- South Africa Mining Sector Faces Unrest and Other Woes (BusinessReport)
- South African Pension Funds Cushion the Blow of Downgrades (BusinessReport)