NAP breaks record to trade P453 million shares

Koobonye Ramokopelwa
Thursday, 16 June 2016
NAP breaks record to trade P453 million shares

Property company, New African Properties made history at the domestic market on Wednesday after trading shares worth P453 million.

This was the biggest trade  in a single day since BSE started operations. NAP among others own Riverwalk mall and Kagiso Shopping mall. NAP has a market capitalisation of P1,7 billion. It closed Wednesday trading at 293 thebe. Acting BSE product Development Manager, Kopano Bolokwe said the second largest trade in a single day is currently being is held by Letshego, which traded shares worth P165,8 million in April 2011.

Speaking at an event on the same day to mark the celebration of the historic trade by NAP, Chief Executive of BSE, Thapelo Tsheole said the trade signifies the confidence that investors has on NAP and indeed BSE as the exchange house. “Such trading also helps improves liquidity,” added the BSE boss.NAP went  public  back  in September 2011.

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