JSE falls 1.2% as Nedbank secures 66% of NCBA
The JSE All Share fell 1.23% to 108335.05 on July 23, while the Top 40 lost 1.26% to 100332.24. Nedbank secured a 66% stake in NCBA in a R13.9 billion deal, equivalent to $794 million, with strong shareholder backing, according to News24, businesstech.co.za and Financial Afrik. On the board, WHL dropped 5.4% over 5 days and NPN fell 5.3% over 5 days despite ZAR 1.19 billion in volume, according to analyst reports. In corporate news, Sasol added 330 MW of renewable power to take capacity above 500 MW, while the JSE welcomed the listing of the Oribi South Africa Top 30 Index Prescient ETF, according to african markets.
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