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Net1 recovers from record low

Dec 06 2012 09:42 Reuters

Company Data

NET 1 UEPS TECHNOLOGIES INC [JSE:NT1]

Last traded 87.00
Change -11
% Change -0.11
Cumulative volume 1625
Market cap 5.08bn

Last Updated: 17/04/2014 at 04:24. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shares of Net 1 UEPS Technologies [JSE:NT1] recover after plunging nearly 50% in the previous session to a record low. 

Net 1, the payment processor which is also listed on the Nasdaq, faces a corruption probe by the US Department of Justice and FBI. 

The US law enforcement authorities are investigating whether the company bribed South African government officials to secure a contract to roll out systems to provide welfare grants. 

Net 1 shares are up 1.43%t at R35.50 after slumping to a record low of R30 on Wednesday.

 

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