Steinhoff price slump a timely reminder about rights issue rationale

The R120bn global furniture group Steinhoff’s share price has now dropped to below the level at which, in July, investors were prepared to inject R18bn in fresh capital. It says much for CEO Markus Jooste’s brilliant timing – but also focuses the spotlight onto an uncomfortable reality: unless forced, companies only have rights issues when their … Read more

Hey, Cadre Deployment looks a lot like the Emperor’s New Clothes

By Alec Hogg Next to Vikings and butter, Denmark’s most famous export is the brilliant author Hans Christian Andersen. He had a wonderful way of entertaining while poking fun at those who needed it. My favourite Andersen story is the one about weavers who convinced the Emperor about their secret cloth that was only invisible … Read more

JD Group shares soar 5%

The JD Group’s share price jumped 5% from approximately R23 per share to R24 per share at the opening of today’s market following news that it intends to sell its financing arm to an international consumer finance group. JD Group is just one of the South African companies which have been hit by exposure to … Read more