The AST Group share traded for the last time under its old name yesterday, with a new name and share code taking effect from this morning.
Now trading under the code GIJ, instead of the AAA that placed it first on any watchlist on which it was included, the share is now called Gijima AST.
The renaming follows the approval by shareholders of the merger between AST and Gijima Technologies.
The deal brings much needed black economic empowerment (BEE) credentials to AST.
Until now, the group has focused on a restructuring programme that has included shedding non-core operations and cutting costs in a bid to return to profitability.
However, commentators have noted that it has suffered from a competitive disadvantage as a result of a poor BEE profile.
The merger is expected to place it in a better situation, to the extent that some observers have said that Gijima is likely to be the salvation of the group.
The group is launching officially under its new name at a function in Sandton this morning.
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