African Phoenix to fast-track preference share purchases
Bank says the repurchase would 'align the capital structure with the company’s strategy'
African Phoenix Investments (API), the company that emerged when African Bank Investment Limited (Abil) came out of business rescue, says it plans to fast-track the repurchase of preference shares after an investor delayed the transaction.
API’s plan was to pay R507m for the 13.5-million preference shares issued by African Bank in the years leading up to its collapse in 2014...
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