The Far gains marginally on BSE debut
Friday, May 06, 2016
The company, which is the second to join the local bourse this year, listed following a successful and oversubscribed initial public offering (IPO).
The company, which is majority owned by Choppies Group directors Ram Ottapathu and Farouk Ismail, issued 40 million new units while the selling shareholders sold 40 million of their own shares meaning that 80 million units were being sold.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...