Why did Aveng share price drop?

Shares in listed infrastructure and mining company Aveng plunged by almost 18% to R22 after the company published a trading update that warned investors of a pending 20% fall in headline earnings. The share closed at R21. 60 on the JSE on Monday.

What does Aveng do?

Aveng (formerly Anglovaal Engineering) is an international infrastructure and resources company listed on the Johannesburg Stock Exchange. Its origins lie in modest construction projects, but Aveng now operates in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment.

How do I invest in Aveng?

How to buy Aveng Limited Group Shares

  1. Open a FREE Trading Account here.
  2. Verify account via email or phone number.
  3. Set up 2FA (Two Factor Authentication)
  4. KYC your profile to get verified.
  5. Explore and get acquainted with the trading dashboard.
  6. Deposit fiat into your trading account.

Will Aveng delist from JSE?

Aveng made 6.6-billion follow-on rights offer shares available, of which 1.3-billion remained unallocated. Aveng will ask the JSE to delist the unallocated shares….Aveng raises R100m in follow-on rights offer.

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Why is aveng shares so high?

This steep appreciation in Aveng’s share price is related to the restructuring of the group’s authorised and issued share capital through the consolidation of every 500 shares into one share, effective from the opening of trade on the JSE on Wednesday.

Can I buy Aveng shares?

The easiest way to buy AVENG LTD shares or stocks is to; start by submitting the ‘BUY THIS SHARE’ form. Next, one of our experienced and certified stock brokers will personally get in contact with you to discuss your custom stock request.

Is aveng a penny stock?

The more than 60-billion shares in issue effectively positions the company as a “penny stock”, which usually carries speculative undertones. The 500-to-1 consolidation and fractional entitlement rules proposed by Aveng could therefore potentially improve the perception of the group as a long-term investment.

Is aveng undervalued?

Now 20% undervalued after recent price drop Revenue has grown by 10% per annum over the last 3 years. The company has become profitable over the last year.

Does aveng share consolidate?

In October the group announced it would consolidate its shares on a 500 to one basis, following shareholder approval for the consolidation at a shareholder meeting in November.

How do you buy aveng shares?

Who is the Managing Director of Aveng?

He joined Moolmans (Aveng’s mining arm) as Managing Director on 1 April 2019. Jerome is also an executive director of Aveng (Africa) Proprietary Limited. Hercu has 30 years’ industry and related experience, and joined Aveng eight years ago . Wouter has over 40 years’ industry experience.

What are the boards and committees at Aveng?

Aveng Board Committees: Chair of the Remuneration and Nomination Committee and Tender Risk Committee. Member of the Audit and Risk Committee; Investment Committee; Safety, Health and Environmental Committee; and Social, Ethics and Transformation Committee.

How long has Edinah worked with Aveng?

He has worked with Aveng for 40 years in different parts of the business, including Grinaker-LTA, Rail and DFC. Edinah joined Aveng in 2012 and has more than 12 years’ industry and related experience.