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Ali Mazanderani, Executive Chairman of Lesaka Technologies Inc. (NASDAQ:LSAK), recently added to his holdings of the company’s common stock. According to a recent SEC filing, Mazanderani purchased a total of 22,390 shares over two transactions. The acquisitions took place on March 21 and March 24, with shares bought at prices ranging from $4.64 to $4.75 each, amounting to a total investment of approximately $106,286. The company, with a market capitalization of $376 million and annual revenue of $577 million, has seen its stock rise 34% over the past year.
Following these transactions, Mazanderani’s direct ownership in the company increased to 397,284 shares. The purchases reflect a significant addition to his stake in Lesaka Technologies, a company engaged in functions related to depository banking. InvestingPro analysis shows management’s continued share purchases as a positive signal, though noting current profitability challenges. With analysts targeting $8.00 per share and the next earnings report due May 13, investors can access detailed insights and additional ProTips through InvestingPro’s comprehensive research report.
In other recent news, Lesaka Technologies Inc. has secured significant loan facilities, as disclosed in a recent 8-K filing with the Securities and Exchange Commission. The company, along with its subsidiary Lesaka Technologies Proprietary Limited and other subsidiaries, entered into a Common Terms Agreement with FirstRand Bank Limited and Investec (LON:INVP) Bank Limited. This agreement includes a term loan of approximately 2.16 billion South African Rand (ZAR) and an amortizing loan up to ZAR 1 billion, alongside a general banking facility of up to ZAR 700.9 million. The term loan is intended for refinancing existing debts and covering transaction costs, while the amortizing loan has a structured repayment schedule starting in February 2026. The interest rates for both loans are linked to the Johannesburg Interbank Agreed Rate (JIBAR) with margins that vary based on Lesaka’s leverage ratio. Additionally, Lesaka has pledged equity interests and banking account interests as collateral for its guarantee obligations. These developments indicate a strategic financial restructuring to support the company’s ongoing operations and corporate activities.
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