How Clientele shares sold for 21 cents instead of R21 | Fin24
  • Ferial Haffajee

    Why Minister of Public Enterprises Pravin Gordhan’s patriotism call to fly SAA flopped.

  • Solly Moeng

    State capture is meant to be over, but we aren't free if its beneficiaries go unpunished.

  • South African Airways

    A business rescue practitioner has been appointed to try and save the struggling flag carrier.


How Clientele shares sold for 21 cents instead of R21

Apr 22 2016 10:01
Adiel Ismail

Company Data


Last traded 15
Change 0
% Change 1
Cumulative volume 6555
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Clientele shares nosedive after trigger to sell at any price

Resources run on JSE not out of steam yet

Absa Insurance to sell unit to Santam

Old Mutual mulls JSE listing of emerging-markets unit

Gupta-owned Oakbay finds new auditors


Cape Town - A trigger mistake to sell Clientele's [JSE:CLI] shares at a limit of 21 cents per share, which sent shares plunging to a record low, was meant to be R21 per share, the JSE told Fin24 on Thursday.

Clientele's shares have recovered after tanking due to a trigger mistake on Wednesday.

“Although the first indication was that the drop in the price of Clientele shares was due to a seller entering a market order, further investigation has revealed that in fact the order which was entered was to sell at a limit of 21 cents per share," the JSE noted.

"The client, who entered the order through an online trading system, has been contacted and has explained that he entered the order in error. His intention was to sell at R21 per share."

The JSE explained that orders may be entered into the order book either as limit orders, orders to buy or sell at a maximum/minimum price, or as market orders.

"A market order is unpriced and will match with whatever orders there are in the order book until the total quantity has been executed.”

The share price of Clientele, which offers life, funeral, legal and health-insurance products, traded between R14.05 -R15.00 on Thursday. It closed up 1.43% at R14.20.

This after nosediving 99% to 21 cents with 488 securities changing hands after the order error, according to data compiled by Bloomberg.   

"The resultant trades did not meet the requirements for a trade cancellation in terms of JSE rules."

jse  |  markets


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote