Optasia, a fintech company in which Ethos Capital holds an indirect interest, has announced plans to list on the JSE, raising up to R6,3 billion by selling a combination of new and existing shares. Optasia’s AI-driven platform makes credit-vetting decisions by analysing various unstructured data sets. It works closely with mobile network operators, mobile wallet operators and financial institutions thereby unlocking financial opportunities for the underbanked across emerging markets. Optasia has c. 121 million monthly active users, processing over 32 million loan transactions per day with access to over 860 million mobile subscribers though its distribution partners and financial institutions.

Orion Minerals has again increased the size of its capital raise this time to A$8,6 million (R99 million) – initially the company announced a A$5 million capital raising exercise but increased this to A$7,7 million due to level of demand. The private placement now comprises the issue of c. 574 million shares at an issue price of 1,5 cents (R0.17) per share.

Visual International has launched an equity raise of up to R2 million though the issue of new ordinary shares implemented through an accelerated bookbuild process. Funds will be used to assist with the company’s working capital requirements.

Marshall Monteagle plc will launch the renounceable Rights Offer to raise up to US$10,7 million from shareholders in terms of which a total of 8,964,377 Rights Offer shares will be offered at an issue price or $1.20 per share in the ratio of one Rights Offer share for every four Marshall shares. The maximum number of shares that can be issued in terms of the Warrants is 4,482,188 and the maximum amount raised $5,3 million.

BHP has purchased 3,997,199 shares, valued at c. R11,86 billion, in terms of its Dividend Reinvestment Plan for those shareholders electing to have shares allocated to them in lieu of the final 2025 cash dividend.

Remgro has received South African Reserve Bank approval for the payment of a gross special dividend to shareholders of 200c per ordinary share.

Last week, the JSE informed Labat Africa shareholders that the company had failed to submit its annual report timeously and its shares were under threat of suspension. Labat has advised that new accountants have been appointed and that it will publish the annual financial statements for the year ended May 2025 by 15 October 2025.

This week the following companies announced the repurchase of shares:

Old Mutual is the latest company to implement a share repurchase programme. It will repurchase c.220 million ordinary shares for a total consideration of R3 billion. The repurchase will take place on the JSE only and the shares will be cancelled reverting to authorised but unissued ordinary share capital.

Over the period 30 September to 3 October 2025, eMedia repurchased 15,327,677 N ordinary shares representing 3.44% of the companies issued share capital. The shares were repurchased for an aggregate R27,77 million using cash resources.

City Lodge Hotels repurchased 42,729,300 shares over the period 10 March 2025 to 3 October 2025. The shares, which have been delisted and cancelled, were acquired at an average price of R3.99 per share for an aggregate value of R170,29 million. The general repurchase was funded from available cash resources and debt facilities.

South32 continued with its US$200 million repurchase programme announced in August 2024. The shares will be repurchased over the period 12 September 2025 to 11 September 2026. This week 784,611 shares were repurchased for an aggregate cost of A$2,23 million.

On March 6, 2025, Ninety One plc announced that it would undertake a repurchase programme of up to £30 million. The shares will be purchased on the open market and cancelled to reduce the Company’s ordinary share capital. This week the company repurchased a further 31,526 ordinary shares at an average price 204 pence for an aggregate £64,398.

The purpose of Bytes Technology’s share repurchase programme, of up to a maximum aggregate consideration of £25 million, is to reduce Bytes’ share capital. This week 489,711 shares were repurchased at an average price per share of £3.98 for an aggregate £1,95 million.

Glencore plc’s current share buy-back programme plans to acquire shares of an aggregate value of up to US$1 billion. The shares will be repurchased on the LSE, BATS, Chi-X and Aquis exchanges and is expected to be completed in February 2026. This week 7,200,000 shares were repurchased at an average price of £3.44 per share for an aggregate £24,79 million.

In May 2025, British American Tobacco plc extended its share buyback programme by a further £200 million, taking the total amount to be repurchased by 31 December 2025 to £1,1 billion. The extended programme is being funded using the net proceeds of the block trade of shares in ITC to institutional investors. This week the company repurchased a further 912,826 shares at an average price of £38.34 per share for an aggregate £35 million.

During the period 29 September to 3 October 2025, Prosus repurchased a further 1,479,279 Prosus shares for an aggregate €89,55 million and Naspers, a further 247,516 Naspers shares for a total consideration of R319,78 million.

Two companies issued profit warnings this week: Newpark REIT and Pick n Pay.

During the week five companies issued or withdrew a cautionary notice: MTN Zakhele Futhi, Vunani, Conduit Capital, Mahube Infrastructure and Labat Africa.

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