Peregrine, SA’s biggest stockbroker, could soon be black-owned

SA’s largest stockbroker Peregrine could soon be majority black-owned, and if approved, the nearly R1bn deal would be a big step forward for transformation in financial services.

On Wednesday Legae Securities and Peregrine Securities announced the formation of a black economic empowerment consortium, which had offered R910m in cash for a 65% stake in Peregrine Securities, currently held by Peregrine Holdings. Read more