17 July 2018
Visit www.gemalto.com

NZX pours scorn on JSE valuation of South African bond exchange

03 November 2008  |  6043 views  |  0 Stock market newspaper with coins stacked

The New Zealand Stock Exchange, the largest shareholder in the Bond Exchange of South Africa (Besa), has poured cold water over the Johannesburg Stock Exchange's proposed R173 million takeover of its compatriot.

NZX, which acquired a 22% stake in Besa earlier in October, has rubbished the JSE's R90 per share offer as "extremely low" and "very significantly below fair value".

The NZX says the JSE offer values the company at only R6 million above its cash worth in a dissolution and fails to recognise the strategic value and synergies that would come from running the business for profit.

In a statement, the NZX says: "Accordingly, while NZX as a shareholder will await the view from the Besa Board and its financial advisors regarding the valuation by JSE of Besa...NZX would not support a takeover at this offer price."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

JSE makes bid for South African bond exchange

JSE makes bid for South African bond exchange

27 October 2008  |  5305 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10257 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9172 views comments | 5 tweets | 14 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8625 views comments | 3 tweets | 1 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8547 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7637 views comments | 1 tweets | 5 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY USA

Find your next job