- July 30, 2012
- Posted by: admin
- Category: General
Investment firm’s stocks gain 2,05% after announcing new investment platform
HOSKEN Consolidated Investments’s (HCI) shares surged to a new record on Monday, before pulling back slightly, after the investment company said it had taken a decision to restructure certain of its investments.
At 11.39am, the HCI share was up R1,71, or 2,05%, to R85,21 on the JSE.
The company announced plans to restructure certain investments into a new investment platform called Niveus Investments, which will be separately listed on the JSE.
The listing is intended to provide HCI shareholders with direct exposure to investments that offer an alternative risk and return profile to their current shareholding in HCI, and which have attractive growth prospects over the medium to long term.
“The investments which form part of Niveus Investments have, in the past, been overlooked by investors because of their size relative to other larger and higher profile HCI investments.
“The listing will provide visibility regarding these investments, which will allow investors to better assess their value, and may potentially unlock value for HCI shareholders,” the company said.
The new investment platform includes Vukani Gaming Corporation Proprietary, HCI Gaming and Entertainment Proprietary, HCI-KWV Holdings Proprietary and Formex Industries Proprietary.
Source: Business Live – Andries Mahlangu