Trading on the JSE is still delayed due to Tuesday’s huge trading volumes that reached a record R145 billion that still needs to be processed.
The local bourse has asked clients to exercise caution when placing orders with the JSE while the opening has been delayed.
Market analysts Patrick Mathidi has attributed the delays to the implementation of the share swop between Naspers and its subsidiary Prosus.
The deal has led to Naspers now having a smaller weighting on the JSE.
“The JSE announced late yesterday that there may be a delay in today’s trading session, the reason being that we saw the largest corporate action announced a few weeks ago which became effective yesterday where Naspers and Prosus are exchanging shares among themselves. Prosus is a subsidiary of Naspers. The board of both companies decided to increase shares among themselves.”
