Shares of Avusa jump nearly 5 percent after Mvelaphanda announces its intention to acquire the media group.

Avusa shares are up 4.88 percent at 21.50 rand, while the All-Share index is 0.05 percent higher.

Mvela is offering 24 rand per share or a share offer of 1.48 shares in its yet-to-be listed subsidiary, Richtrau, for every Avusa share. - Reuters