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17 December 2020
Hello Voornaam,

Metrofile's shares got a nice boost ahead of yesterday's holiday, rising 6% after it released a positive trading update and confirmed that a second company was interested in buying it. While a conditional offer made a year ago by a consortium of private equity investors has yet to materialise due to Covid-19 holdups, the new unsolicited approach could result in a higher price if the company is to be taken private.

Delta Property Fund's shares also rose on Tuesday - ahead of its suspension by the JSE after it withdrew its 2020 annual financial statements and postponed the release of its interim results due to fraud and the misappropriation of funds in the latest accounting scandal to hit JSE-listed company.

More on those stories to follow, along with news of York Timber's acquisition of an avocado and macadamia nut farm as it diversifies its business and an update from African Rainbow Capital Investments, which has seen strong growth in customer numbers at its TymeBank subsidiary.

Finally, Jasco plans to sell more non-core businesses to strengthen its balance sheet after a tough year and AltX will welcome its 40th listing next week when Prosus joins the exchange.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect


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Todays Latest Headlines

Resilient Metrofile attracts more interest
The records management and document storage company says a second international investor has expressed interest in buying it.
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JSE suspends Delta listing
The property fund plans to release its restated results before the end of February when it will ask for the suspension to be lifted.
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Jasco pulls out all the stops after tough year
The group believes it has sufficient available financing to continue its business and that its financials have been prepared on a going-concern basis.
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Prosus joins Naspers on A2X
The inclusion of Prosus will take the combined market cap of companies listed on the stock exchange to almost R5 trillion.
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York branches into avos and nuts
The timber group is preparing for its first high-yield soft citrus crop as it diversifies its business and earnings.
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TymeBank signs up 2.5-million customers
Owner African Rainbow Capital Investments says 1.5 million of its customers are actively using their accounts.
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