In a busy day for corporate news on Tuesday, Sasol slumped amid a generally tough day for miners and Capitec leapt. Meanwhile, healthcare company Ascendis looks likely to be the JSE's next departure after shareholders gave their approval. In international news, Chinese bubble-tea chain Baicha Baidao had the worst debut for a large company in Hong Kong for almost a decade.
Just over 87% of shareholders of Ascendis Health voted on Tuesday in favour of delisting the company from the JSE. Ascendis was founded in 2008 and listed in 2013, but has spent years trying to get on top of an unsustainable debt pile racked up through an offshore acquisition spree that had mixed results. It was also subject to multiple board battles and struggles to get asset sales over the line.
Source: News Formal (newsformal.com)
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