MARKET WATCH: Building bricks
The relisting of Brikor’s shares could be quite an event. But the relisting plans are not entirely clear
I’m sure there was more than just morbid fascination with the relisting of African Phoenix — the old African Bank Investments (Abil) — on the JSE this week. As a holder of several Abil preference shares — some bought hours before the share was suspended when the bank was placed into curatorship a few years ago — I watched developments with a good deal of interest. It’s always heartening to see efforts to salvage some value for shareholders, and I wish there were more successful bids to rescue companies that have got themselves in a pickle. I suspect most investors give up hope when a listed company opts for business rescue or curatorship. Once suspended by the JSE, companies can be guilty of not enlightening shareholders to key developments — or even providing much-needed disclosure (especially when directors quickly desert the sinking ship). These trying matters are, understandably, prolonged affairs, and unfortunately the odds are usually stacked against shareholders (as the backe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.