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Online Share Trading

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Oz
Occasional Contributor
Anybody know whether there are other offers on the table for STO?
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1 REPLY 1
ABuzz
Super Contributor
The previous offers for part or whole of the shareholding in STO have not been pursued, primarily due to the fact that they were not at a satisfactory level above what the share was trading at over that period. The reason for the drop from around the 80-90 cent levels earlier to the current levels (and those at which the bids were made) was due to the irregularities in one of their operating businesses, which didn't show up as too negative on the financials, so was probably an unfounded scare. I would see the parties getting interested again if the share can trade at over 80 cents for a while, thereby making any bid offer viable at the 95 - 105 cent range (or even higher). The BEE deal for 10% shareholding for cash is still being negotiated, but is unlikely to do anything positive to the price, would probably even drop it somewhat in the short-term. so it is a bit of wait and see at this stage. With general market sentiment irratic and possibly trending downwards, we are unlikely to see much up-side to this share in the short term, unless another offer is placed on the table.
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