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African Bank is back, sorta

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Super Contributor

African Bank is back, sorta

they relist tomorrow (1 Feb) and update just now says HEPS of 3c for first six months ending March.

 

Gonna be wild watching this one.

 

An yes I got it wrong, never expected it back. Happens

Simon
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Shi
New Contributor

Re: African Bank is back, sorta

Std Bank late in showing AXL on OST.

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Contributor

Re: African Bank is back, sorta

Yes, we are having some tech issues with getting data feeds into the platform for AXL, this should be resolved shortly
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Super Contributor

Re: African Bank is back, sorta

Any idea as to how they would get to the valuation at around 50c?

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Super Contributor

Re: African Bank is back, sorta

like any other share = price discovery between buyers and sellers ..

Simon
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Super Contributor

Re: African Bank is back, sorta

I watched in horror on how the vultures dives in on ABIL. So glad it has a lifeline. Those who are short will hopefully be burn't like those who was short in KIO (remember Simon, they flack we took for KIO),

 

Long live ABIL (AXL)

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Highlighted
Super Contributor

Re: African Bank is back, sorta

depends where you short from ?

Simon
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Contributor

Re: African Bank is back, sorta

A 2 year wait for a 60%+ profit (@55c) is OK with me.

Pity the vultures descended on this and stripped the company though.

The question now is: where to from here?

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Super Contributor

Re: African Bank is back, sorta

not sure we can blame the vultures, the board sent it into bankruptcy ?!

Simon
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Contributor

Re: African Bank is back, sorta

Sure we can. ABIL should have been allowed to fail and the shareholders would have found value in the estate. Alternatively - the new "investors" could have righted the ship through a massive rights issue conducted in the public forum and subject to the normative corporate discolsure requirements and established comany law... but that would have been too transparent for them! Instead - the "Banks" stepped in to loot it. Crushed the small shareholders/investors as usual. Right up to and including the disgraceful STANGEN story. Vultures is too polite a term for them, in fact. The directors were just common crooks.