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Market Recap 22 May to 28 May 2019

Market Recap 22 May to 28 May 2019

The local market was active this week, with the NSX Local index down 0.55% at 628, and the NSX Overall Index down 2.41% at 1290. As at 28 May, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 10.6 billion, followed by Namibia Breweries with N$ 10 billion, Capricorn Investment Group with N$ 8.2 billion, and Trustco Group with N$ 7.9 billion. Trustco Group lead the market this week, with growth of 1.25% to close at N$ 8.08 per share. In terms of volume Namibia Breweries lead the market with N$ 14.9 million worth of shares traded, with FirstRand Namibia in second place with N$ 649 thousand worth of shares traded. The local currency lost 2.31% against the US Dollar, to close at N$ 14.72 per USD, and lost 1.91% against the British Pound, to close at N$ 18.63 per GBP. It closed at N$ 16.44 against the Euro, a loss of 2.38%.

Bidvest Namibia announced since the acceptance of the Delisting Resolution by a majority of shareholders, and the offer becoming unconditional, effective and irrevocable, the offer period that started at 09h00 on 20 May 2019 is now drawing to a close. Bidvest’s last day to trade on the NSX will be 31 May 2019, with its suspension date following on 3 June 2019. The closing date of the offer it thus at 14h00 on 3 June 2019, with the final record date on 7 June 2019. The offer consideration to be paid to offer participants will be paid within 5 business days of the closing date, provided that documents of title are received on or prior to the closing date. Bidvest Namibia will thus be fully delisted on 11 June 2019 from the NSX.

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