Getting Nedbank stock
Old Mutual has published details of the Nedbank unbundling. Those holding Old Mutual shares on the JSE at close on 9 October will receive 3.21176 Nedbank shares for every 100 of their Old Mutual shares. This will be done pro rata and may result in some temporary weakness in the Nedbank share price as some sell their Nedbank stock. I’d also be a seller of Nedbank, because I prefer either Capitec or Standard Bank – which has a solid exposure to the rest of Africa.