Adapt IT investor dares Huge Group to release buyback records in takeover bid
The step is required to address concerns about the company’s trading activity, says Kerem Aksoy of Glacier Pass Management
16 March 2021 - 14:47
A US-based investor in local technology firm Adapt IT has dared Huge Group to publicly release information about its share buyback programme, after allegations that Huge artificially propped up its share price as a way to back its buyout bid for the company started by business person Sbu Shabalala.
Johannesburg-based Adapt IT, which provides software solutions to the education, manufacturing, energy, financial services, communications and hospitality sectors, is subject to an R800m takeover bid from tech peer Huge Group. ..
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