Alibaba raised $10 billion for its AI push in Hong Kong’s biggest share sale in five years
Hong Kong's largest follow-on share sale sent Alibaba's stock down 8.5% in a day, and its chairman, its chief executive and Jack Ma all bought in afterwards.
Big international shareholders are taking on Naspers over who really controls the company
Storebrand, CalPERS and New York City pension funds published votes against Naspers directors before Wednesday's meeting, over a share structure that has overruled objections like theirs before.
Editor’s pick
One of South Africa’s biggest miners could be about to change hands in a R122 billion takeover
An unnamed South African platinum producer approached Northam's chief executive, and the board answered by opening a contest that any credible buyer can enter.
If you are tiling your bathroom, the cheap imports have about three months to run
The trade regulator moved against dumped ceramic and porcelain tiles two months ago, but the stock that undercut Italtile all year is already inside the country.
The Roundup — Wednesday, 26 August 2026
Shein is finally hitting the stock market after losing 70% of its value in four years
Shein opened its Hong Kong offer on Monday at a valuation near $27 billion, after import charges in the United States and the European Union turned a $395 million quarterly profit into a $99 million loss.
Big story
South Africa is about to see a massive expansion of prepaid fibre into its townships
New equity and expanded debt facilities value Frogfoot, Vox and Hypa at a combined R14.4 billion, and almost all of the build the money pays for is aimed at townships and lower-income areas.
Editor’s pick
Nvidia is trying to convince Wall Street its AI chips are worth lending billions of dollars
Six of the world's largest capital managers have signed memorandums of understanding with Nvidia aimed at mobilising more than $500 billion for AI data centres, and not one of them has signed anything binding yet.
Copper has just become the biggest money-maker at R4 trillion mining giant BHP
The copper business made a record US$18 billion last year and BHP's Johannesburg listing has passed R4 trillion on the strength of it, with analysts almost entirely unconvinced.
Advtech is closing in on 120,000 students, with growth increasingly coming from beyond South Africa
Earnings rose 16% and the dividend 18% in the six months to June, on enrolment growth that came from the tertiary brands and the schools north of the border rather than from South African classrooms.
One of the JSE’s tech companies is about to hand its shareholders a massive R7 billion payday
The technology group is handing back R7.05 billion from a refinancing that closed on 4 August, and the cash route carries a 20% tax the share route does not.
Fiat's smallest car is being sold to Americans who wanted a nicer golf cart
The Topolino lists at $13,995, tops out at 19mph until a conversion kit arrives, and dealers have been selling their allocations before the cars reach the lot.