SA Market Highlights | 25 - 29 March
Outline
The South African rand remains flat against the US dollar at R18.93 this week. It could be in for a volatile week as it awaits the South African Reserve Bank’s interest rate decision to be announced on Wednesday.
Most companies in the mining sector have seen double-digit growth over the past week. Tharisa Plc is leading the pack, rising 16.67% to R14.05. This is the result of commodity prices, including Gold, moving higher.
#THA #Gold.
Detailed Overview
Last week, Transactional Capital announced that WeBuyCars has garnered R902.7 million pre-listing capital and has sold its Australian debt collection business, Nutun, for R720 million. The group is worth R6.5 billion, and together with the raised capital, will have a total market value of R7.82 billion. The share price has recovered 9.39% since the start of 2024.
#TCP
The helium and natural gas group, Renergen, announced that Airsol, an Italian industrial gas group, has added an additional R76 million in debt instruments bringing the total to R133 million. The debt instruments (debentures) can be converted to shares when Renergen lists on the Nasdaq. The group is eyeing listing in the US, which will unlock needed capital for growth.
#REN
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