South Africa’s largest insurer jumps R11 billion in a day

• Santam’s shares were trading at 47,500 cents at close, a 19% premium over the previous day, after Sanlam announced its intention to take full ownership of the company.
• The group’s market cap was around R44 billion before the announcement, and jumped almost R11 billion to R54.7 billion on 6 October, largely due to Monday’s rally. The group traded at 7,700 cents per share when the bell rang, a 1.47% decline from the last day of trading on Friday.
• The acquisition would bring an end to Santam’s 62 years of trading on the Johannesburg Stock Exchange (JSE), having listed on the exchange in 1964.