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Super Group surprises among JSE's best
Super Group ranks third in the share price performance table in the year to June 6, giving faithful holders a return of 94.9% on the year.
Super Group's rescue rights issue was breathtaking. It issued 4.2 new shares for every one in issue at 45c and the whole issue was taken up, thereby bringing in R1.2bn of new money.
Investors who took their cue from Allan Gray, RMB and other fund managers in believing in Super Group's survival and subscribing for the rights issue have virtually doubled their money.
Subsequently Super Group has sold Autozone for R435m. The proceeds will be used to pay off debt. New CFO Colin Brown said the revival strategy is working.
Source: Moneyweb
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