Fast buck as African Phoenix soars
What’s next for African Phoenix after shareholder activist Value Capital Partners’ quick in-and-out?
15 August 2019 - 05:00
Value Capital Partners (VCP) has walked away with a nice little profit on its comparatively short-lived investment in African Phoenix Investments (API) after selling it to listed financial investment company Zarclear for 80c a share.
Sam Sithole, CEO of the shareholder activist group, won’t give details, but analysts say VCP bought API, previously known as African Bank Ltd, at about 50c a share about two years ago...
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