Why do I smell a delisting here?
Me don't think so, but that is my personal view.
Besides the fact that JP Morgan Chase will be in control of Aveng through its majority shareholding, and the fact that it will probably ensure that the Aveng directors get their annual bonusses based on their performances, I don't believe it will be in the Interest of JP Morgan to delist or deregister from the JSE because:
1. Delisting and deregistering are complicated issues
2. A substantial portion of the Aveng shares are held by investment institutions in SA such as Coronation, Allan Gray and others and to delist and or deregister will impede these institutions' ability to trade their shares. This, I believe, will be the big no-no for Aveng because an action like that will destroy a lot of local trust Aveng has built up with its investors through dire times in the past 10 years as we all know
3. Perhaps the intention will be to get multiple listings , perhaps in Australia and who knows..... even in the New York because this company is going to grow internationally and will need more liquidity/exposure for its share in bigger markets than SA (Steinhoff has a dual listing. Its major listing is in Frankfurt, not in SA)