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Tag: JSE

Nedbank issues green bond backed by IFC to fund green residential developments in South Africa

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SOUTH AFRICA – To help improve access to certified green homes in South Africa, International Finance Corporation (IFC) and Nedbank have announced the issuance of a green residential development bond under Nedbank’s domestic medium-term note program, with IFC as the anchor investor. This is the first green bond by a commercial bank in Africa focused on green residential housing developments.…

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Telkom SA plans separate listing of subsidiary on the JSE

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SOUTH AFRICA – Telephony group Telkom is seeking a separate listing of its Swiftnet masts and towers business on the Johannesburg Stock Exchange (JSE) as it seeks to unlock value for shareholders. The telecommunications group, which is about 40% owned by the government, confirmed in a statement to shareholders that will seek a separate listing for Swiftnet, the masts, and…

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Fortress REIT launches US$61.3m sustainability-linked bonds on JSE to scale-up

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SOUTH AFRICA – Hybrid fund Fortress Reit said it had launched sustainability-linked bonds of R900 (US$61.3 million) million aligned to its ongoing strategic environmental, social and governance plan to scale up its renewable energy outputs and deliver more solar energy to the national grid. The Johannesburg Stock Exchange had granted Fortress the listing of a three-year sustainability-linked bond of R495…

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ASEA signs deal to boost trading among African securities exchanges

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AFRICA – Cross-border trading from one African securities exchange to another has come a step closer after the African Securities Exchanges Association (ASEA) signed a contract to procure an order-routing system. Seven of Africa’s leading securities Exchanges are working together in the African Exchanges Linkage Project (AELP) to boost pan-African investment flows and bring more liquidity to African markets. The…

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Imvula Education Empowerment Fund acquires 23% of Ellies Holdings for US$1.3m

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SOUTH AFRICA – Imvula Education Empowerment Fund Trust has concluded its first investment in a Johannesburg Stock Exchange-listed company through its BroadBased Black Economic Empowerment (B-BBEE) agreement with Ellies Holdings. The transaction will see Imvula invest R18.5 million (US$1.3 million) of its capital to acquire more than 185 million ordinary Ellies shares at 10 cents a share, representing a 23…

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Investor Transactional Capital begins WeBuyCars takeover discussions

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SOUTH AFRICA – Investor group Transactional Capital has opened formal negotiations with WBC Holdings to acquire controlling shares in online, vehicle retailer WeBuyCars. The Johannesburg Stock Exchange -listed Transactional Capital announced that it’s seeking to increase its stake in WeBuyCars from the current 49.9% shareholding to 74.9% and take charge of the online retailer. WeBuyCars is a dealer in used…

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Absa Group confirms the departure of CEO Daniel Mminele

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SOUTH AFRICA – Absa Group’s chief executive officer Daniel Mminele is set to step down just 16 months in the position. The financial services group has officially confirmed. Daniel Mminele was Absa Bank first black Chief Executive Officer. Confirming the reports, Absa bank announced, through the Johannesburg Stock Exchange  sent statement, that it was working on a separation agreement with…

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MTN Rwandacell to list by introduction on Rwanda Stock Exchange

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RWANDA – MTN Group will list its Rwandan subsidiary on the Rwanda Stock Exchange (RSE) on 4 May, the Johannesburg Stock Exchange (JSE)-listed telecommunication giant has announced. The move follows approval by the Rwanda’s Capital Market Authority and the Rwanda Stock Exchange (RSE) of MTN Rwanda’s listing by introduction on the stock exchange as well as the approval of Crystal Telecom…

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Growthpoint Properties receives a US$546m offer to sell real estate assets in Europe

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SOUTH AFRICA – Growthpoint Properties, one of South Africa’s largest real estate investment companies, has received an offer to sell the 65.2 million shares, representing its 29.5% stake in a London-listed real estate company active in Central and Eastern Europe. Growthpoint Properties manages a portfolio of more than 500 properties in Europe, Australia, and South Africa, Two Luxembourg companies made…

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