Omnia: Down, then up, and now an intriguing offer
Looking into 2021 and 2022, it’s clear the foundation for Omnia’s recovery has been set
Omnia had a most interesting year. It admitted to a debt problem that at one point peaked at R6.8bn — far exceeding its crumbling market valuation.
It also had to issue a series of updates highlighting its poor performance issues, which were aggravated by a structurally weak domestic economy. The share price plunged from a R50-60 range in 2018 to below R13 in July 2019 after the release of its final results.