简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Legae Peresec, South Africa's largest securities trading firm, was formed by the merger of Peregrine Securities and Legae Securities, the country's oldest black stockbroker.
Legae Peresec, South Africa‘s largest securities trading business, has been created, emerging from the combination of Peregrine Securities and Legae Securities, South Africa’s oldest black stockbroker.
Standard Bank‘s strategic guidance and innovative funding was central to the success of this dual purchase and merger transaction in South Africa’s highly competitive stock broking industry.
Standard Bank has funded Nkholi Consolidated Investments (Nkholi) ZAR 760m purchase of Peregrine Securities.
Legae Peresec is 51% black owned and managed with more than 30% black female ownership.
Shareholders are broad based and will predominantly be management and staff of the firm.
Jonas Malebye, Head, Investment Banking South Africa at Standard Bank, said when approached by Nkholi for a funding solution for this black economic empowerment transaction, “Standard Bank came up with an innovative funding structure, which enhanced the economics of the transaction for Nkholi.”
“The bespoke structure made it possible for Standard Bank to fund a substantial portion of the transaction on its own,” he said.
According to Tshepo Maseko, Chairman of Legae Peresec and responsible for the companys trading technologies, the new black-empowered and entirely independent firm will be large enough to compete with local and international banks, “using our excellent capital position to drive transformation and continued growth in the sector by providing our clients access to increased liquidity and capital, world class financial technologies and more robust risk management processes”.
Standard Bank will continue to partner with Legae Peresec, “as we grow our business and deepen transformation by supporting new entrants to South Africa‘s securities sector,” said Lester Bailey, who heads Legae Peresec’s Prime broking and custodial services offering.
Going forward, Standard Bank, as a banking partner to Legae Peresec, will continue to support the growth of the business. Standard Bank will also manage the new entities custody and clearing business.
“Growing tomorrow‘s corporate champions in a way that expands South Africa’s securities ecosystem through inclusive growth is critical to future-proofing our economy by locking in sustainable long-term growth that is relevant to all. Standard Bank is committed to the transformation of our economic landscape,” said Malebye.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
SC Malaysia has been cautioned regarding Arab investment company. According to the Authority, a possible clone operating an illegal investment scheme offers high returns e.g.a return of RM3,000 in 24 hours with an investment of RM300. This entity does not carry a License.
SWIFT EARNERS has emerged as a controversial and highly dubious player. Despite its claims of being a reliable broker with a base in the United States and additional operations in Thailand, the experiences of numerous victims tell a different story. A particularly harrowing account comes from a South African victim who has found himself ensnared in what appears to be a well-orchestrated scam.
When searching for "RIF-CAPITAL" in WikiFX, we found that we have not yet confirmed its valid license information. WikiFX has received eight complaints against the trader in the past three months.
Trading in the financial markets, whether forex or cryptocurrency, can seem daunting for beginners. However, with the right approach and mindset, anyone can evolve from a rookie to a confident trader. Here’s a step-by-step guide to help you navigate this journey.