Back when FIFA was running South Africa in the build-up to the 2010 World Cup, construction stocks were booming. Cranes dominated the skylines and exuberance filled the streets. Construction companies enjoyed a brief honeymoon period before crashing down to earth in the aftermath of the event.
Brian Joffe, the CEO of investment group Long4Life, says the expression of interest that the company received from a local entity didn’t come as a surprise because listed companies with a small market capitalisation have been undervalued