The market initially appeared to have adopted a wait-and-see approach to newly listed special acquisitions group RH Bophelo, with its share price remaining relatively flat since listing. But the share price has perked up somewhat this month, gaining about 13% so far. Most of that gain came from one day’s trading. Portfolio manager at Gryphon Asset Management Casparus Treurnicht said the company still had much to prove before its liquidity levels showed up on the counter. "Since listing, there were also 20 days when no shares were exchanged," he said. Equity analyst at Mvunonala Holdings Matthew Zunckel agreed, saying it was still early days for RH Bophelo as it had not concluded its first deal yet, with the only asset under its belt the cash raised on listing. The company, which listed initially as a special-purpose acquisition vehicle in mid-July, raised R500m that it said would be used for the acquisition of infrastructure assets. Zunckel said it was a vote of confidence in the co...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.