African Phoenix, one of the companies formed from now-defunct African Bank Investment Limited (ABIL) after it went into business rescue, will delist from the Johannesburg Stock Exchange on Tuesday, June 30.
The company announced on Monday morning that financial services group, Legae Peresec, had acquired almost half of its shares. This has paved the way for African Phoenix to go ahead with the delisting it first proposed to shareholders in February.
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