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Strong trading in the Imperial Holdings BEE scheme Ukhamba continued today with more than 80 deals concluded. The most recent new listing, Welkom Yizani, is also experiencing active two-way trade around the issue price of R10. Friday also saw a good trading day in Assupol Holdings with over R500 000 worth of shares changing hands.
The delay in the listing of MTN Zakhele has been widely criticised by shareholders waiting to trade months after the promised date. But it’s not all bad. In this thoughtful contribution, BEE share specialist Craig Gradidge argues that there is a bright side to the postponement. And uses hard numbers to support his view. – AH … Read more
The MTN Zakhele share scheme has been in the news for all the wrong reasons. Its often postponed listing has left more than 100 000 shareholders frustrated at not being able to trade. Such is the lack of confidence among service providers that the latest update is trading will start “sometime in January”. These postponements … Read more
Those who travel along Corlett Drive in Johannesburg will have noticed long queues snaking up the block from the Equity Express Walk-In Centre. It was created to assist new shareholders, specifically those participating in the dozen BEE share schemes that the company manages for a range of clients. A strict registration process is required to … Read more
By Alec Hogg In 1998, when the late Imperial Holdings CEO Bill Lynch used R15m of the group’s money to establish the Ukhamba Trust, he was probably following his own credo of “Just do it.” Fifteen years on, the magic has happened. By any measure, Ukhamba is one of the most successful Black Economic Empowerment schemes. … Read more
Welkom Yizani had its first positive trading session today. The shares gained 55c in the session to end at 1005c – fractionally higher than the issue price of R10. Shareholders can be pleased, however, that they are actually able to trade. The Equity Express platform has coped well – in the first day trading twice the … Read more
Given MTN Zakhele’s aborted debut, the good news about today’s listing of Welkom Yizani – Media24’s BEE share offering – is that the platform managed relatively heavy trading (75 000 shares in 517 deals) without any glitches. The bad news is that after a bright start, selling pressure dropped the price from an early peak … Read more
The MTN Zakhele saga is sure to generate plenty of research papers among academics in university Communications Departments. On how NOT to do things. A heavy investment in pre-listing marketing completely wasted as trade had to be suspended after a couple hours on the opening Monday. Even bigger mess on day two. A promise to … Read more
The MTN Zakhele reputational disaster took another turn today with its announcement its trading platform needs another two weeks before it can attempt re-opening. And then only maybe. As the Press Release republished below notes, trading might resume on the 17th December. Maybe. If testing is successful. Over the past few days I’ve spoken to … Read more
MTN Zakhele is sticking to its story that “unprecedented demand” knocked over its share trading system. And says this alone is the reason for the aborted listing of the BEE shares owned by 120 000 investors, not that it erred in choosing an inexperienced service provider. Or the fact that during its two days of … Read more