Surge In Americans Buying South African Stocks
From Business Day LiveShares in South African resources companies are proving to be a hit with American investors who have already ploughed $37.8-billion (about R418.9-billion) into buying South African stocks in the US.
Ninety-five of South Africa’s JSE-listed companies offer American depositary receipts (ADRs) in the US, stock sold in dollars backed by the underlying shares back at home. This number has grown from the 85 SA companies that punted their shares to Americans the year before.
By the end of September, the total value of South African companies with ADRs in the US stood at $37.8-billion — a 6.1% rise on the previous year.
Written by Asha Speckman/Read more at Business Day Live