Saturday, October 18, 2025

The Finance Ghost

Ghost Bites (Cashbuild | DRDGOLD | Gemfields | Labat Africa | Premier – RFG | PSG Financial Services | Sanlam | Vukile Property Fund)

Premier wants to acquire RFG in a share-for-share deal. Vukile raised far more than the planned R2 billion. PSG Financial Services banked excellent numbers. Sanlam's capital markets day reflects high growth targets. Updates came in from Cashbuild, DRDGOLD, Gemfields and Labat Africa as well.

Who’s doing what this week in the South African M&A space?

Weekly summary of Merger & Acquisition activity by South African companies

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies

Who’s doing what in the African M&A and debt financing space?

Weekly summary of all M&A, financial and debt market activity from across Africa (excluding South Africa)

Practical considerations when implementing ESOP and HDP transactions

Planning proactively and exercising caution when agreeing to the timing of implementation, will ensure regulatory mandates are met.

Musings from a reconditioned private equity fund partner

Executive decisions need to be critically examined - we all have blind spots – unconscious biases about our own decision-making ability.

Ghost Bites (ASP Isotopes | Exemplar REITail | Karooooo | Vukile Property Fund | Vunani)

ASP Isotopes is raising $210 million to take advantage of the jump in the share price. Vukile Property Fund is raising R2 billion for acquisitions. Karooooo released solid numbers. Exemplar REITail is buying two retail properties. Vunani's trading statement looks good.

Ghost Bites (Bytes Technology | CMH | Ninety One | Santova | Tharisa)

CMH has dropped its dividend in favour of massive share buybacks. Bytes Technology is desperate for a moat. Ninety One's AUM has grown considerably. Santova disappointed the market.

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