Thursday 12 September 2019

911 on the JSE ALSI index (and Swix)

The shareholders of Naspers were informed about the intention to split the share on the 11th of September. Traders of the index were uninformed that there would be an event.
Prior to the open the index traded higher. The futures chart (not shown here) continued trading higher between 08h30 and 09h00. Clearly the traders were oblivious as to what was about to happen.
The index was directly affected by a 33% devaluation of its major component - a pre-planned event. The split hived off this value into a new listing which was not immediately accommodated on the index. The SENS released via the JSE by Naspers at 09h30 provided an explanatory for those that track every SENS release. This being after the event. 
So if you were affected, and plenty were, what has your broker done to restore you?



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