Tag:
Afine Investments
DealMakers
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies.
Ghost Bites
Ghost Bites (DRDGOLD | Hudaco | Richemont | Supermarket Income REIT)
Richemont's blowout sales growth brings luxury back in vogue. Supermarket Income REIT is raising £100 million for acquisitions. DRDGOLD has released a presentation to explain their capex cycle. Hudaco locked in the world's strangest (or most efficient?) share repurchase.
Ghost Bites
Ghost Bites (Mantengu | Northam Platinum | Purple Group | Schroder European Real Estate | Spear REIT)
Purple's Telescope AI deal is a good example of a vertical integration - at a price. In mining, Northam Platinum released strong production numbers, while Mantengu may have locked in a profit on the iron beneficiation plant. In property, Spear REIT sold two properties for a tidy profit, but it's time to put Schroder European Real Estate out of its misery.
Ghost Bites
Ghost Bites (Fairvest | Ninety One | Putprop)
Fairvest has upgraded full year guidance, with B shareholders celebrating strong double-digit returns at the moment. Ninety One has returned to positive net inflows. Putprop is recycling capital into a property in Kramerville.
Ghost Bites
Ghost Bites (4Sight | Emira Property Fund | ISA Holdings | Reinet | Sygnia | Telkom)
In the tech sector, 4Sight and ISA Holdings waved the flag for the small caps. Sygnia had an excellent period and Telkom shareholders are also celebrating. Reinet is the definition of a fortress balance sheet. It's a slow and steady story at Emira Property Fund.
Ghost Bites
Ghost Bites (Finbond | Gemfields | Hyprop | MAS | Orion Minerals | Quantum Foods | Reunert | Richemont | Trematon)
Richemont has welcomed a return to growth in Asia Pacific. MAS is making big changes - and Hyprop is happy to be on the other side of a deal for a property in Bulgaria. Finbond, Gemfields and Reunert all have positives and negatives to consider. Orion Minerals raised capital, while Trematon might sell Generation Education.
Ghost Bites
Ghost Bites (Rainbow Chicken | Sappi | Sea Harvest | Vodacom)
Rainbow Chicken's earnings have doubled, while Sea Harvest's earnings have quadrupled! Vodacom is making hay while the sun is shining in Egypt. Sappi is trading at COVID and GFC levels and expects more pressure on earnings in the next quarter.
Ghost Bites
Ghost Bites (Burstone | Life Healthcare | Momentum | NEPI Rockcastle | RFG Holdings | Southern Sun)
Momentum goes from strength to strength. Southern Sun has great occupancy, but cost pressures are evident, Life Healthcare is complex, but growing. NEPI Rockcastle and Burstone are doing all kinds of exciting things, yet earnings growth is relatively tame. RFG Holdings was dragged down by the International segment.
