Bloomberg News

African Bank, Medi-Clinic, Metorex: South African Equity Preview

July 22, 2011

July 22 (Bloomberg) -- The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.

The FTSE/JSE Africa All Share Index rose 69.73, or 0.2 percent, to 31,125.79 by 5 p.m. in Johannesburg, its highest closing level since July 15.

African Bank Investments Ltd. (ABL SJ): The financial- services provider said it raised 243 million rand ($36 million) through a private placement of preference shares at 79.75 rand. The stock rose 1.6 percent, to 35.80 rand.

Medi-Clinic Corp. (MDC SJ): South Africa’s second-largest publicly traded private hospital holds its annual general meeting. Shares in the company rose 0.5 percent to 31.87 rand.

Metorex Ltd. (MTX SJ): The producer of copper and targt of a $1.36 billion takeover bid from China’s Jinchuan Group Co. holds a general meeting of shareholders. The stock was unchanged at 8.45 rand.

Palabora Mining Co. Ltd. (PAM SJ): The copper producer said in a trading statement that net profit for the half-year to June 30 is likely to be between 726 million rand and 782 million rand, more than double the 306 million rand in the year-earlier period. Shares in the company gained less than 0.1 percent to 130 rand.

Sabvest Ltd. (SBV SJ): The investment holding company holds a general meeting of shareholders. The stock was unchanged at 9 rand.

--Editors: John Kohut.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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