| Quantum Foods doesn't generally attract a lot of attention - and it's shares have been fairly moribund for the past year or so. That is, until last month when Zeder Investments sold its stake in the poultry and eggs group to Country Bird. Since then, it's been a bit of a feeding frenzy, with the stock doubling in value in just over a month. It appears that Country Bird planned to make an offer to minority shareholders in order to take control of Quantum, with its eye on its eggs business. But, not wanting to get into a bidding war, it changed its mind after it got wind of another potential suitor. It now transpires that the group's chairman and some of its management have also been buying shares, perhaps to fend off any unwanted takeover. Read on for more on that story, as well as the deal Steinhoff has struck to sell its Conforama France operation. It hasn't disclosed the selling price, but says it was disposed of for a nominal sum - which probably means next to nothing. It will, however, receive more for the physical stores and will be released from its liabilities. Meanwhile, Stefanutti Stocks sank yesterday on reports that Eskom believes it overpaid the group by R1 billion for projects it worked on, including the Kusile power station. And Taste Holdings is preparing for a name change and a share consolidation in two weeks' time as it focuses on its luxury goods businesses. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
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The latest from Ingham Analytics - Capitec takes the stage in "Rating retreat" Ingham Analytics have issued an updated note on Capitec, one of the darlings of retail investors, smart institutional fund managers, locally and overseas, depositors and borrowers for many years. Net loans and advances have grown by a compound rate of 18% per annum between F2012 and F2020 and deposits grew by 22% pa. Substantial market share gains have been made by Capitec relative to the Big Four banks. Since the beginning of the year the share price is down by around 45% - so Capitec hasn't been unscathed by Covid-19 fallout. Ingham Analytics pose the question, what price would you pay for Capitec in a post Covid-19 world? In "Rating retreat" they unpack some fascinating data and draw an interesting conclusion. This is a must read for those following the banking sector. Worried about the SA government doing a Zimbabwe, stoking inflation to get itself out of a fiscal hole? Have a look at "Fighting inflation" which looks at the Satrix ILBI ETF as a security to designed to offset the effects of rising prices by adjusting its principal value as inflation rises. There is an explanatory addendum on the website for further background detail. The money theme is carried over to "Is the Reserve Bank Father Christmas?" | 