Caxton ups its stake in Mpact
The community newspaper publisher becomes Mpact’s biggest shareholder
MPact, the biggest paper and plastic packaging and recycling business in Southern Africa, said in a JSE news service (Sens) announcement on Friday that Caxton and CTP Publishers and Printers has increased its shareholding in the company to 26.45%.
That makes Caxton, which is expanding beyond its traditional business of printing and distributing community newspapers, Mpact’s biggest shareholder, according to data compiled by Bloomberg. Caxton previously held 6.34% of MPact, the data shows.
Mpact’s share price rose 2.2% to R13.80 after earlier climbing as high as R14, the highest since October 23 when it reached R15.
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