Wait for de­tails

Finweek English Edition - - MARKETPLACE SIMON SAYS -

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.

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