Shareholders will get a 65% premium to the average trading price of last month.
Financial services group Sasfin has announced plans to delist from the JSE, offering minority shareholders R30 a share a 65% premium to the average price of R18.16 over the last 30 days.
The offer will be funded by Wiphold and the Sassoon family investment vehicle Unitas, which will subscribe for shares in the wholly-owned subsidiary Sasfin Wealth.
This will come as a blow to the shrinking JSE, which has seen a steady rush for the exit door in recent years, with the delisting of companies like Royal Bafokeng Platinum, PSG Group, Liberty, Mediclinic, Massmart and Distell.
Bell Equipment also nounced plans for a JSE delisting on Monday.
Sasfin CEO Michael Sassoon said that the minority shareholders get to call the shots on the deal and are being treated fairly in the process. They now have the option of accepting the deal and selling their shares or remaining as minorities in a refocused financial services group.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Kriel's Springbok dream is still alive
Bulls utility back David Kriel's dream of playing for the Springboks is still alive and kicking as he targets another strong season for his franchise in the United Rugby Championship (URC) and Champions Cup.
Proteas wrap up ODI series in style
Middle-order batter Tristan Stubbs made an international breakthrough yesterday, compiling his maiden century as the Proteas men's team closed out a superb day for South Africa's national cricket sides.
Broos is at ease with PSL stance
Bafanal Bafana head coach Hugo Broos has praised the Premier Soccer League for allowing him more time to prepare his squad for their two 2025 Africa Cup of Nations Group K qualifiers against Congo-Brazzaville.
Bayern visit bogey side Frankfurt
Bayern Munich travel to bogey side Eintracht Frankfurt tomorrow looking to rebound having dropped points twice in the space of a week.
Valjalo on home turf to defend title
The date has been set for South Africa's premier Skateboarding contest where the country's best skaters will battle it out to see who will be crowned event champions.
Muzi ready for Kranji challenge
Joburg Spring Challenge races have attracted top fields.
Stories from the dot-com era
Some compare the high prices of today’s tech giants to the pricing in the stock market back then.
'We don't want to die'
Over 1000 people killed and hundreds of thousands more flee their homes.
Heart of nation at stake
Can a pledge to protect reproductive rights help Kamala Harris become the first woman to win the White Abortion has never been so close to the heart of an American presidential election, but this is the first to be held after access to the procedure was banned or restricted across much of the country, following a landmark Supreme Court ruling.
Kim ‘ready to nuke all'
North Korean leader Kim Jong-un said his country would use nuclear weapons \"without hesitation\" if attacked by the South and ally the United States, state media reported yesterday.