|
Related Topics |
|
We take a look at the shares of PSG Konsult (the company that owns and runs most of PSG Groups financial services companies. They include PSG Wealth , PSG Asset Management, PSG Insure). The reason we looking at them today is the fact that there is hardly any float available in these shares.
|
So who owns PSG Konsult (KST) shares?
So who owns the shares in listed PSG Konsult? A quick look on PSG Group's website shows that PSG Group owns 61.9% of PSG Konsult. This leaves 38.1% available. Paging through PSG Konsult's annual report for 2016 shows that directors and management of the company owns 9.6% of PSG Konsult. This then leaves 28.5% available for the public to buy.
This is where things start to get interesting. PSG Konsult announced earlier in the week that they (via funds they investing on behalf of clients) now own 6.55% of PSG Konsult. This leaves just under 22% available for the public to buy on the JSE.
Doing some more digging, PSG Konsult's annual report shows that 67 shareholders holds more than 1 000 000 shares and they own a total of 89.8% of the company. (Of these 67, 19 are directors and the main holding company PSG that combined owns 71.5% of PSG Konsult ). This leaves 48 investors that owns 18.3% of PSG Konsult. Now lets assume one of these investors is Coronation and their latest holding of 6.55%. That leaves us with 47 investors that owns 11.75% of PSG Konsult.
And for the rest of the market there is essentially only 10.2% of PSG Konsult shares available to trade. With such a low float, one has to wonder if it is in fact worth PSG Konsult's while to remain listed? Surely listing costs for such small float does not make a lot of financial sense?
We will keep a close eye on developments with regards to PSG Konsult.
And for the rest of the market there is essentially only 10.2% of PSG Konsult shares available to trade. With such a low float, one has to wonder if it is in fact worth PSG Konsult's while to remain listed? Surely listing costs for such small float does not make a lot of financial sense?
We will keep a close eye on developments with regards to PSG Konsult.