MONDAY, 11.00AM:
THE SA Futures Exchange on Monday launches options opn ordinary shares of Anglo American, De Beers, Richemont, SA Breweries and Liberty, with the intention of extending the scheme to add all the shares included in the indices on which futures are at present listed.
“The equity options market of Safex will help to bring our financial markets further into line with those of the more advanced economies,” said Safex CEO Stuart Rees.
Rees said the options will be American-style, and will be traded on Safex’s automated trading system, and available both locally and abroad.
BUSINESS BRIEFS
BOK STOCKS? THE SA Rugby Football Union is considering listing on the Johannesburg Stock Exchange. Following submission of a feasibility report by Federal Credit Corporation of SA, Sarfu CEO Rian Oberholzer said a proposal on the listing will be submitted to the union by the end of October. If the listing goes ahead, Sarfu will be listed as a public investment trust, Rugby Union Commercial Investment Company Limited, as an investment vehicle to take up minority equity investments in commercial operations of the union.
ABSA NAME CHANGE AMALGAMATED Banks of SA said on Friday it has obtained sharholder approval to change its name to Absa Group, with effect from September 22.
R1,2bn FOR MOSSGAS The state subsidised Mossgas to the tune of R1,2-billion since it began production in 1992, Mineral and Energy Affairs Minister Penuell Maduna told Parliament on Friday. The subsidies took the form of tariff protection, and synthetic fuel product price compensation payments. Maduna added that Cabinet had also approved R910-million in guarantees for the development of satellit gas fields.