Finweek English Edition - - INVESTMENT -

third par­ties, and houses com­pleted in the pe­riod grew while bank-ap­proved sales were slightly down and their state­ment around the pipe­line of sales go­ing for­ward was vague. With that all said, hous­ing re­mains in mas­sive de­mand in South Africa and things are def­i­nitely im­prov­ing for RBA. It’s a stock that de­serves at­ten­tion but con­sid­er­ing the way small-cap stocks work, it looks like it’ll only be the next set of re­sults in six months that will fire the price, and weak­ness is likely un­til then. ment not val­u­a­tion. When they started this buy­back, the stock was around R300 but now over 60% higher, the val­u­a­tion the­ory doesn’t carry that much weight.

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