Wait for details
Capital Appreciation is by far the largest special purpose acquisition company (SPAC) on the JSE, having raised R1bn in late 2015. Its recent results were however meaningless as its only asset was cash and all profits were merely interest received on that cash pile. It has now announced a series of deals in the fintech space that look interesting and with the share trading down around 80c as I write, this looks like it could offer value. That said, Capital Appreciation has promised to provide more details on the companies it is acquiring and I want to see that information first, because buzzwords like fintech can obscure the actual details.