Caxton sells internet businesses for R493m
Share price jumps 11.60% on Monday, the biggest intraday gain in seven months
Shares in printing and publishing company Caxton jumped almost 12%, its biggest intraday gain in seven months, after the company said it will sell its shares in two internet network infrastructure and services companies.
The companies, Octotel, which provides internet network infrastructure, and RSAWeb, a hosting & connectivity provider, will be sold to fund manager Neoma Africa Fund for R493m. The share price rose 11.60% to close at R4.52, giving the company a market capitalisation of R1.7bn.