Billionaire Christo Wiese may have caused the selloff in Aspen: Saad  

Aspen has been in the spotlight on speculation that it could be the next victim of short-sellers Viceroy Research. Aspen’s shares fell 10% in early January on the back of these rumours.

In an exclusive interview with CNBC Africa, Aspen’s CEO Stephen Saad  revealed that Shoprite’s Chairman and Steinhoff’s former Chairman  Christo Wiese’s dumping of between 4-5 million shares may have led to the panic selling of Africa’s biggest generics drugmaker on 9th January 2018. The share price opened the day at R262.08 and closed at R250.13. Taking the average price on the day Wiese sold shares worth over R1 billion (over $82mn).

Wiese, whose liquidity has been squeezed following the obliteration of retailer Steinhoff’s share price on accounting irregularities, has been selling shares in various listed companies.

Read: Billionaire Christo Wiese sells over $80mln in Shoprite shares

Saad also told CNBC Africa’s Bronwyn Nielsen that there is no price sensitive information that management of Aspen Pharmacare Ltd is holding back from the market.

“The only information we have now that the public don’t have is really our results,” said Saad.  Our trading update – we half year December – so our trading update will be in February as it has always been and results will be out on 8th March, he added.

Saad also shed light on his relationship with Jooste. He dispelled rumours that he has bought Jooste’s horses.   “I didn’t even know Markus Jooste had horses,” he said.

“Anyone who knows me well knows there is far more chance of me buying a rhino than there is of me buying a racehorse, Saad added.

He revealed that he and Jooste had sat on the same board for Investec related company – IEP from which Jooste resigned from in December.

IEP is an investment holding company with controlling and strategic scalable interests in a number of companies, such as Assupol and Vumatel.

“I met Markus Jooste twice in those board meetings, and Markus Jooste was actually chairman of those meetings. It is a completely independent investment. It is a personal investment,” said Saad.

“I thought he was really smart, very charming and very down to earth and is charismatic”. I have got nothing negative to say about him out of the two meetings I met Markus Jooste.”

Related Content

Christo Wiese: Why I am standing down at Shoprite’s next AGM

CNBC Africa spoke to outgoing Shoprite chairman Christo Wiese about his decision to step-down at next year’s annual general meeting.

Mergence, Christo Wiese’s Titan joins forces to repair Brait

Activist investor Mergence has joined forces with billionaire Christo Wiese’s Titan to repair Brait’s balance sheet and unlock value at the investment...

How this analyst views retail tycoon Christo Wiese’s plan to shake-up Brait

According to media reports, retail tycoon and African billionaire Christo Wiese wants a shake-up at Brait that includes raising R3 billion and selling all assets except for Virgin Active. Will it regain shareholder value? Cobus Potgieter, Portfolio Manager at AIP Capital Management shared his views.

Steinhoff has been fined R53 million for misleading markets

Steinhoff disclosed the hole in its accounts in December 2017 which shocked investors and wiped more than 200 billion rand off its stock market value.

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

More from CNBC Africa

Nigerian Equities Wrap: Market momentum wanes

The consumer goods index of the Nigerian Stock Exchange was among the top-performing indices in May. Onyeka Ijeoma, Analyst at Vetiva joins CNBC Africa to discuss what to expect from the equities market this week....

Nigeria’s money market review

Traders say the high demand and poor supply characterising Nigeria’s forex market for the past few months have resulted in fairly stable rates observed in the trading days this week. Ifeoma Onyejekwe, Fixed Income Trader at UBA joins CNBC Africa for more....

COVID-19 lock-down: Rwanda permits taxi-moto operations & inter- provincial travel

This morning it was announced that taxi motos are now permitted to accept passengers again after over two months of being off the road due to the dangers around the spread of Covid-19. This is good news not only for many of the 45,000 taxi-motorists in the country that depend on the income, but also for the thousands of citizens that they transport daily. CNBC Africa spoke to analyst, Moses Gahigi for more.

President Buhari to AfDB President Adesina: “I’ll stand by you”

While hosting African Development Bank (AfDB) President Akinwumi Adesina on a courtesy visit at State House on Tuesday, Nigerian President Muhammadu Buhari said the country will support Adesina in his bid to get re-elected as President of the multilateral bank.

Partner Content

Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19

As we go through this global pandemic together, it is the little things we miss. A high five, a handshake, a walk...

VIVO CEO is a dynamic leader for this innovative global brand

May 2020 -- Six months ago the vision for vivo in South Africa was just beginning to...

Trending Now

What It’s Like To Be A Professional Amazon Reviewer

Sean Cannell makes tens of thousands of dollars a month as a professional Amazon reviewer. As part of the Amazon Affiliate program, Cannell reviews camera gear on his Think Media YouTube channel and makes a cut of every sale those reviews generates o

Cannon Asset Managers CEO on how to position your portfolio for a depression

In 2006, little known economics professor Nouriel Roubini warned that the US housing market was at risk of collapsing. Fast forward two years and it did, triggering the global financial crisis. Roubini, now known is Dr Doom is forecasting another economic depression, contradicting the consensus view the recovery from Covid-19 will be V-shaped. Dr Adrian Saville, CEO of Cannon Asset Managers joins CNBC Africa for more.

How Covid-19 is driving demand for internet services

With students working from home, companies across industries forced to move online and video conferencing services being more utilized now than ever; broadband, WiFi and mobile data capacity seems to be getting tested like never before. So can internet service providers stand up to the test? Robert Nkeramugaba, Senior Network Operations Manager, BSC joins CNBC Africa for more.

Uganda moves to phased reopening amid rising of COVID-19 cases

In Uganda, according to president Yoweri Museveni, the country will go ahead with its plan to re-open the country despite recording more than 150 Covid-19 cases in three days. Moreover, European Union gives Uganda about $198 million to fund coronavirus response. CNBC Africa spoke to Qatahar Raymond Mujuni, a journalist for more.
- Advertisement -