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Africa's biggest lender raises stake in SA IT firm
By
Staff Writer
, ITWeb
South Africa
,
09 Jul 2024
As required in terms of section 122(3)(a) of the Act, Mustek filed the required notice with the Takeover Regulation Panel.
Standard Bank, Africa's largest lender, has increased its stake in Mustek, a South African company that assembles and distributes personal computers and other ICT products.
Mustek, which is listed on the Johannesburg Stock Exchange (JSE), announced the development today, stating that Standard Bank now holds a total beneficial interest in the company's securities equal to 14% of the entire issued share capital.
Mustek submitted the notice required by section 122(3)(a) of the Act with the Takeover Regulation Panel.
Mustek Group was listed on the JSE in 1997 and now includes the operational operations of Mustek and Rectron.