African Phoenix to fast-track preference share purchases
Bank says the repurchase would 'align the capital structure with the company’s strategy'
04 June 2019 - 15:18
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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