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The rejected offer aimed to secure a controlling stake in the company, with ArcelorMittal reaffirming its commitment to operational independence amid ongoing ownership discussions.
The IPO could raise up to R8 billion ($451.2 million), potentially the biggest public offering in Africa in 2024.
Barry Swartzberg, one of South Africa’s most successful businessmen, holds a 3.92 percent stake in Discovery, amounting to 25,954,540 shares.
In its appeal, FirstRand argues that motor dealers should not be held to fiduciary standards or be required to provide impartial advice.
TFG is poised to expand its international portfolio with the acquisition of White Stuff, a UK-based fashion and lifestyle brand.
South Africa’s Saltzman family controls a 29.3 percent stake, equivalent to 302,066,319 ordinary shares in the Gauteng-based company.
South African pharmaceutical tycoon Stephen Saad faces setback as Aspen Pharmacare shares decline.
As the leading shareholder with a 56.46 percent stake, Ravazzotti owns 746,244,490 shares in Italtile.
The decline is primarily attributed to fluctuations in his stake in Richemont, the luxury conglomerate that houses brands like Cartier and Chloé.
This growth comes despite a 5.45-percent dip in revenue, which fell to $2.61 billion due to ongoing market challenges and currency fluctuations.
Deal to diversify African Bank’s portfolio; Grindrod refocuses on core operations.
South African tech tycoon, Jens Montanana’s growing stake underscores his influence as a top investor in South Africa’s tech sector.
CEO Bloisi emphasizes profitability and strategic divestments in core business
This surge is driven by the sustained rise in the shares of the leading publisher of books, newspapers, and magazines on the Johannesburg Stock Exchange (JSE).
Although the recent surge boosted investor confidence, Transaction Capital shares remain down 57.28 percent year-to-date.
Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.