SBK Halts Trading?

[asylum]

No trades on standard until futher notice. Interesting

[#2]

or scary....

[#3]

Directors request JSE to halt tradind pending an announcement from directors.

[#4]

Hmmm What is going on? There must be something more on the line here

[Stij]

ICBC to buy 20% stake of SBK: http://www.moneyweb.co.za/mw/view/mw/en/page38?oid=167855&sn=Detail

[barry_1]

Chinese Bank if they can get approval of all authorties will buy 20% of Standard Bank and have two board members.(Source Moneyweb) and pay R5.5 billion.This should push the shares price up,as China can then use SBK to do all their deals through out Africa.They are pouring a river of money into developing nations as they are becoming wary of the developed world currencies.OMO.

[Stij]

That's $5.5bil.

[asylum]

What i dont understand is why stop trading, in another sens announcement just out they say because of the speculation that has arisen that is why they stopped trading, lot of hogwash if you ask me, they are not the only company that punters speculate on.

[#9]

See last sens,if I had a long position in sbk I would be drinking right now....

[Stij]

Help me out here - $5.5bil for a 20% stake equates to about 20% higher than the current value of the shares. Surely this is a good thing??

[#11]

Isnt speculation what the JSE is all about?We all buy to sell at hopefully higher price,not because we want to own a share in the company?Most traders anyway

[#12]

I hope you good man! ... sitting with a little bit of DB SBK CO but this is got me worried as to what is going to happen. Is this for real tho ? the 20 % buy out

[barry_1]

U are right ,my mistake sorry!

[CHATTYCHAT]

If you go Biblical - the East will be taking over the West. And whilst (I assume) we all thought it would be a (3rd world) war, it now manifests as being driven by pure financial forces: viva Capitalism!

[#15]

oh the anticipation is killing me, bought a bunch of sbknna just after the announcement and now wondering if it was a bad move or shoulda bought more... 2pm where art thee..

[#16]

My little brain tells me that sbk feel that the news doesnt warrant such a move in their share price and therefore stopped trade before everyone got burned.If the news was going to make the share price rise rapidly,they wouldnt of stopped trade.

[barry_1]

Was going to double my holding of SBKSBK this morning,how ever withdrawn the extra play as i'm becoming nervous!

[CHATTYCHAT]

Another Q: who will be selling to the Chinese their 20%. Shareholders profile reveals:Public Investment Commissioner 13.30% Old Mutual Group 8.90% Tutuwa participants 7.60% . Whom of these will let go.

[#19]

Ja and if only Simon could say something !

[#20]

If you believe wwhat your read in the press...than 10% will come from the issue of new shares, and the other 10% will come from the accquiring of shares through private holders and the open market...