4Sight stock slides more despite announcement of joint venture
JSE-listed 4Sight Holdings says it will supply the joint venture with its technology know-how while its Chinese partner will drive funding
An upbeat media statement announcing a joint-venture in China failed to halt 4Sight Holdings’ share price slide on Monday.The new technology listing’s share price fell to a new low of R1.40, taking the losses for those who subscribed for its initial public offering (IPO) in October 2017 at R2 per share to 30%.The company, which describes itself as "providing decision support technology solutions that enable, inter alia, intelligent pricing and decisions across various industries" saw its share price jump to R2.85 shortly after its IPO, but then rapidly tumble to less than half that.In Monday’s statement, 4Sight said it had signed a memorandum of understanding with Shenzhen Rongmei Science and Technology to form an equal partnership in China."The 4Sight Holdings group operates in 25 countries worldwide with 84% of its business and revenue earned from the Europe, Middle East and Africa (Emea) region, 15% from the Americas (mostly Latin America) and only 1% from the Asia Pacific region...
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