Torrent of trade in Naspers/Prosus trips up JSE’s systems
Africa’s largest stock exchange left red-faced after it was unable to complete processing of large trade volumes
18 August 2021 - 11:58
UPDATED 18 August 2021 - 22:57
The JSE, Africa’s largest stock exchange and one of the continent’s oldest, was left red-faced when it was forced to delay the start of equities trading by hours on Wednesday after it was unable to complete the processing of large trade volumes from the previous day.
The unusually large volumes stemmed from a share swap involving Naspers and Prosus that was first announced in May, ironically to help reduce the internet investor’s oversize impact on the local market. The local bourse suffered a systems glitch but eventually resumed equity trading around 1.30pm, more than four hours late...
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