Johannesburg - Shares in Caxton and CTP Publishers and Printers [JSE:CAT] surged over 5% on Thursday after it acquired a 34% stake in Moneyweb [JSE:MNY] on Wednesday.
The AltX-listed Moneyweb skyrocketed 21 cents or 44.68% to 68 cents by the close on Thursday.
A trader said the spike in the share prices of the two companies was related to the deal. In terms of the deal announced on Wednesday, Moneyweb issued 30.8 million new shares to Caxton at 68 cents each to raise R20.9m.
- I-Net Bridge
The AltX-listed Moneyweb skyrocketed 21 cents or 44.68% to 68 cents by the close on Thursday.
A trader said the spike in the share prices of the two companies was related to the deal. In terms of the deal announced on Wednesday, Moneyweb issued 30.8 million new shares to Caxton at 68 cents each to raise R20.9m.
- I-Net Bridge