Investec jumps on share buyback announcement
The banking group is following a ‘capital optimisation strategy’ given surplus capital in SA
03 October 2022 - 13:43
UPDATED 03 October 2022 - 18:18
Investec shares rose to the highest level in four trading sessions after the banking group announced plans to buy back shares as part of a “capital optimisation strategy”.
The niche bank and wealth manager said in a stock exchange filing on Monday that it had appointed JPMorgan Equities SA to purchase shares on the JSE and London Stock Exchange as well as other trading platforms in the UK on which its stock is listed. The buyback programme, which will be limited to a maximum aggregate market value equivalent to R1.2bn, will start on October 3 and end on or before November 17...
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