Company Data
| Last traded |
R102.50 |
| Change |
R0.93 |
| % Change |
0.92% |
| Cumulative volume |
33,536 |
| Market cap |
R3.50bn |
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Johannesburg - Shares of
Hudaco Industries [JSE:HDC] surged more than 13% after the importer and distributor of industrial goods said on Thursday it may be the target of a takeover bid.
The company, which has a market capitalisation of R2.9bn, said in a statement it had received an "expression of interest" that may lead to an offer for all of its shares, without offering further details.
Hudaco is being advised by Nedbank Capital on the deal, a unit of Nedbank, South Africa's fourth-largest bank.
Shares of Hudaco were up 13.2% at R86 as of 12:40pm, compared to a 1% rise on the JSE.