Weekly update | African listed companies, corporate deals (w/c 19 Aug)

Recent deals (M&A, IPOs, strategic shareholdings) include Oando Plc, Argent Industrial Ltd, Sanlam Africa Core Real Estate Investments Ltd and Airtel Africa Plc.

ENERGY

Oando Plc (NGX:OANDO; JSE:OAO) has successfully completed the acquisition of 100% of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy company, Eni, for a total consideration of USD783 million. Oando is listed on the Nigerian and Johannesburg stock exchanges. Read the full announcement.

INDUSTRIAL

GIC Private Limited has increased its stake in the Bidvest Group Limited (JSE:BVT; A2X:BVT). GIC Private Limited’s holding now amounts to 5.05% of the total issued share of the company. Bidvest Group is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

Argent Industrial Limited (JSE:ART) has acquired the entire issued share capital of UK-based Standmode Limited and its 100% held subsidiary Mersey Container Services Limited from Mr P. Fitzgerald and Mrs J.E Fitzgerald for a cash purchase consideration of GBP6.89 million (ZAR159.33 million). Argent is listed on the Johannesburg Stock Exchange. Read the full announcement.

Ninety One SA (Pty) Limited has acquired a beneficial interest in Raubex Group Limited (JSE:RBX; A2X:RBX). Ninety One’s holding now amounts to 5% of the total issued ordinary shares of the company. Raubex is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

CONSUMER GOODS

Titan Premier Investments has increased its stake in Premier Group Limited (JSE:PMR; A2X:PMR). Titan’s beneficial interest in the company now amounts to 45.6% of its total issued ordinary shares. Premier is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

MINING

Sibanye-Stillwater Limited (JSE:SSW; NYSE:SBSW) has secured a EUR500 million green loan financing facility for its Keliber lithium project in Finland, through its subsidiary Keliber Technology Oy. Sibanye-Stillwater is listed on the Johannesburg and New York stock exchanges. Read the full announcement.

Osino Resources Corp (TSX:OSI.V; NSX:OSN) will be delisted from the Namibian Stock Exchange on Friday 30th August 2024. The firm was recently acquired by Shanjin International Gold Co., Limited. Osino is currently listed on both the Toronto and Namibian stock exchanges. Read the full announcement.

Shareholders in Kore Potash Plc (ASX: KP2; LSE:KP2; JSE:KP2; A2X:KP2) have approved the issue of 4,299,454 new ordinary shares. The shares are expected to commence trading on or around 28 August 2024. Kore Potash is listed on the Australia, London AIM, Johannesburg and A2X stock exchanges. Read the full announcement.

JP Morgan Nominees Australia Limited has acquired a stake in South32 Limited (ASX:S32; LSE:S32; JSE:S32). JP Morgan’s holding now amounts to 5.013%. South32 is listed on the Australian, London and Johannesburg stock exchanges. Read the full announcement. 

INVESTMENT MANAGEMENT

The Ninety One Guernsey Employee Benefit Trust has acquired 151,866 ordinary shares in Ninety One Plc (JSE:N91; LSE:N91) for an aggregate purchase consideration of GBP249,270. Ninety One is listed on the Johannesburg and London stock exchanges. Read the full announcement.

TELECOMS

Airtel Africa Plc (LSE:AAF) has commenced the second tranche of its USD100 million share buy-back programme. The second tranche will amount to a maximum of USD50 million and is anticipated to end on or before 19 December 2024. Airtel Africa is listed on the London Stock Exchange. Read the full announcement.

The Public Investment Corporation SOC Limited (PIC) has reduced its stake in Telkom SA SOC Limited (JSE:TKG). The PIC’s holding now amounts to 9.949% of the total interest in the ordinary shares of the company. Telkom is listed on the Johannesburg Stock Exchange. Read the full announcement.

RETAIL

Ninety One SA (Pty) Limited has slightly increased its stake in Clicks Group Limited (JSE:CLS; A2X:CLS) from 4.999% to 5.104% of the total beneficial interest of the company. Clicks is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

TRAVEL & LEISURE

The Public Investment Corporation SOC Limited (PIC) has acquired a beneficial interest in the securities of Famous Brands Limited (JSE:FBR; A2X:FBR). The PIC’s holding amounts to 15.166% of the total number of securities in issue. Famous Brands is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

Foord Asset Management Proprietary Limited has reduced its stake in Spur Corporation Limited (JSE:SUR; A2X:SUR). Foord’s holding now amounts to 4.93% of the total issued share capital of the company. Spur is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

INVESTMENT HOLDINGS

OptiPower, a trading division of Murray & Roberts Limited (JSE:MUR), in joint venture with Coxabengoa, has been awarded a contract to construct a 100 MWp solar photovoltaic renewable energy facility in the Northwest Province for a South African mining company. The contract value is approximately ZAR1.2 billion, with OptiPower’s share in the joint venture being 50%. Murray & Roberts is listed on the Johannesburg Stock Exchange. Read the full announcement.

Shareholders in Sun Limited (SEM:SUN) have voted in favour of a proposed business restructuring which involves splitting the company into two distinct listed groups. Sun Limited is listed on the Stock Exchange of Mauritius. Read the full announcement.

Ninety One SA (Pty) Limited has reduced its stake in Combined Motor Holdings Limited (JSE:CMH). Ninety One’s holding now amounts to 4.423% of the total issued shares of the company. Combined Motor is listed on the Johannesburg Stock Exchange. Read the full announcement.  

The boards of Naspers Limited (JSE:NPN; A2X:NPN) and Prosus N.V. (AMS:PRX; JSE:PRX; A2X:PRX) have announced that as part of the company’s Repurchase Programme (announced in June 2022), Prosus repurchased 3,465,763 Prosus shares at an average price of EUR32.9435 per share for a total consideration of EUR114,180,487 (USD125,473,582). Naspers is listed on the Johannesburg and A2X stock exchanges while Prosus is listed on the Euronext Amsterdam, Johannesburg and A2X stock exchanges. Read the full announcement.

The boards of Naspers Limited (JSE:NPN; A2X:NPN) and Prosus N.V. (AMS:PRX; JSE:PRX; A2X:PRX) have announced that as part of the company’s Repurchase Programme (announced in June 2022), Naspers repurchased 291,595 Naspers shares at an average price of ZAR3,673.3061 per share for a total consideration of ZAR1,071,117,693 (USD59,287,821). Naspers is listed on the Johannesburg and A2X stock exchanges while Prosus is listed on the Euronext Amsterdam, Johannesburg and A2X stock exchanges. Read the full announcement.

M&G Investments Southern Africa (Pty) Limited has reduced its stake in Reinet Investments S.C.A. (LuxSE:REINI; JSE:RNI). M&G’s holding now amounts to 4.99%. Reinet is listed on the Luxembourg and Johannesburg stock exchanges. Read the full announcement.

Trustco Bank Namibia Limited, a portfolio company of Trustco Group Holdings Limited (JSE:TTO; NSX:TUC) has resolved to return its banking licence to the Bank of Namibia. Trustco Group is listed on the Johannesburg and Namibian stock exchanges. Read the full announcement.

Fairtree Asset Management (Pty) Limited has acquired a stake in Super Group Limited (JSE:SPG). Fairtree’s holding now amounts to 5.01%, up from 3.92% of the total issued ordinary shares of the company. Super Group is listed on the Johannesburg Stock Exchange. Read the full announcement.

MANUFACTURING

Ninety One SA (Pty) Limited has reduced its stake in Mondi Plc (LSE:MDNI; JSE:MNP; A2X:MNP), a packaging and paper group. Ninety One’s holding now amounts to 4.901%, down from 5.022% of the total number of securities in issue. Mondi is listed on the London, Johannesburg and A2X stock exchanges. Read the full announcement.

BUA Foods Plc (NGX:BUAFOODS) has signed an agreement with IMAS, a Turkish flour milling equipment manufacturer, to build four wheat and flour milling factories with a cumulative milling capacity of 3,200 tonnes per day. BUA Foods is listed on the Nigerian Stock Exchange. Read the full announcement.

REAL ESTATE

Coronation Fund Managers (Pty) Limited (JSE:CML) has acquired a stake in Hammerson Plc (LSE:HMSO; Euronext Dublin:HMSO; JSE:HMN; A2X:HMN). Hammerson is listed on the London, Euronext Dublin, Johannesburg and A2X stock exchanges. Read the full announcement.

RDC Properties Limited (BSE:RDCP) has informed PrimeTime Property Holdings Limited (BSE:PRIMETIME) of its firm intention to make a general offer to all PrimeTime unitholders to acquire all the linked units of PrimeTime not already held by RDC. Both RDC and PrimeTime are listed on the Botswana Stock Exchange. Read the full announcement.

Sanlam Life Insurance Limited has informed shareholders of Sanlam Africa Core Real Estate Investments Limited (SEM:SARE) that the Financial Services Commission of Mauritius has consented to the circulation of the offer document relating to the mandatory offer by Sanlam Life to acquire all the Class A shares of SACREIL not already held by Sanlam Life, Agulhas Nominees (Pty) Limited, Sanlam Africa Real Estate Advisor (Pty) Limited and Safa Share Incentive Trust. SACREIL is listed on the Stock Exchange of Mauritius. Read the full announcement.

TECHNOLOGY

Shareholders in Lesaka Technologies, Inc (NASDAQ:LSAK; JSE:LSK) have approved a share issuance proposal. Lesaka is listed on the Nasdaq and Johannesburg Stock Exchanges. Read the full announcement.


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