International Finance Corp 4
4 · LESAKA TECHNOLOGIES INC · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Lesaka Technologies (LSAK) 10% Owner IFC Sells Shares
What Happened
- International Finance Corporation (IFC), reported as a 10% owner, disclosed multiple dispositions and two acquisitions of Lesaka Technologies (LSAK) common stock. The filing shows roughly 2,628,658 shares sold in transactions between Oct 2017 and Mar 2026 for aggregate proceeds of about $13.4 million. The largest single sale was 2,103,069 shares by AFCAP on May 19, 2020 for ~$8.41 million (≈ $4.00/share). IFC also received two blocks of shares on Oct 2, 2024 (1,004,623 and 984,539 shares) at $4.79 each, totaling 1,989,162 shares acquired for about $9.53 million — these J-coded acquisitions arose in connection with the issuer’s acquisition of the Adumo Group (see footnotes).
- Sales were mostly open-market or private dispositions (code S); the recent small sales include 6,823 shares (Mar 4, 2026) and 4,290 shares (Mar 5, 2026). The filing includes multiple fund-level notes indicating some sales were executed by IFC-managed funds (e.g., AFCAP, ALAC).
Key Details
- Transaction span: Oct 30, 2017 through Mar 5, 2026; Form filed Mar 6, 2026 (reporting covers historic trades across years).
- Total sold (per filing): ~2,628,658 shares for ≈ $13.40M. Total acquired (Oct 2, 2024): 1,989,162 shares for ≈ $9.53M.
- Largest sale: 2,103,069 shares on 2020-05-19 by AFCAP for $8,412,276 (≈ $4.00/share) [F1].
- J-coded acquisitions (2024-10-02) represent shares received due to the issuer’s acquisition of the Adumo Group [F4, F5].
- March 4–5, 2026 sales note weighted average prices and range disclosures for ALAC sales; detailed per-price breakdowns are available upon SEC staff request [F7, F8].
- Shares owned after transaction: not specified in the provided summary (check full Form 4 for post-transaction beneficial ownership).
- Beneficial ownership/structure notes: IFC may be deemed to own shares indirectly through funds it manages (ALAC, FIG, AFCAP) and disclaims beneficial ownership except to the extent of any pecuniary interest [F2, F3].
- Filing timeliness: the report (filed 2026-03-06) discloses transactions dating back to 2017–2018 and 2020; those older trades were reported much later than the trade dates in this consolidated filing.
Context
- IFC is an institutional, international organization (not an individual executive) and enjoys certain privileges under its Articles of Agreement; disclosures include a legal remark about IFC’s immunities (does not affect the financial facts reported).
- For retail investors: purchases tied to corporate M&A (J-code shares from Adumo acquisition) are not the same signal as an open-market insider buy; large institutional sales (like the AFCAP 2020 block) may reflect portfolio rebalancing by funds rather than managerial view on company prospects.
- No options exercises, gifts, or tax-withholding events are indicated in the provided transactions.
Insider Transaction Report
Form 4
International Finance Corp
10% Owner
Transactions
- Sale
Common Stock
2017-10-30$9.04/sh−20,545$185,727→ 2,761,070 total - Sale
Common Stock
2017-10-31$9.10/sh−21,100$192,010→ 2,739,970 total - Sale
Common Stock
2017-11-01$9.09/sh−10,700$97,263→ 2,729,270 total - Sale
Common Stock
2017-11-02$9.07/sh−11,918$108,096→ 2,717,352 total - Sale
Common Stock
2017-11-03$9.05/sh−27,265$246,748→ 2,690,087 total - Sale
Common Stock
2017-11-06$8.96/sh−14,900$133,504→ 2,675,187 total - Sale
Common Stock
2017-11-07$9.14/sh−28,400$259,576→ 2,646,787 total - Sale
Common Stock
2017-11-08$9.19/sh−20,701$190,242→ 2,626,086 total - Sale
Common Stock
2017-11-09$9.24/sh−19,760$182,582→ 2,606,326 total - Sale
Common Stock
2017-11-10$9.74/sh−85,036$828,251→ 2,521,290 total - Sale
Common Stock
2017-11-13$9.64/sh−14,700$141,708→ 2,506,590 total - Sale
Common Stock
2017-11-13$9.63/sh−50,000$481,500→ 2,456,590 total - Sale
Common Stock
2017-11-14$9.50/sh−48,400$459,800→ 2,408,190 total - Sale
Common Stock
2017-11-15$9.48/sh−51,900$492,012→ 2,356,290 total - Sale
Common Stock
2017-11-16$9.53/sh−26,731$254,746→ 2,329,559 total - Sale
Common Stock
2018-02-07$10.83/sh−42,100$455,943→ 2,287,459 total - Sale
Common Stock
2018-02-08$11.06/sh−20,220$223,633→ 2,267,239 total - Sale
Common Stock
[F1][F2][F3]2020-05-19$4.00/sh−2,103,069$8,412,276→ 5,099,627 total(indirect: See footnote) - Other
Common Stock
[F4]2024-10-02$4.79/sh+1,004,623$4,812,144→ 3,271,862 total - Other
Common Stock
[F5][F2][F3]2024-10-02$4.79/sh+984,539$4,715,942→ 6,084,166 total(indirect: See footnote) - Sale
Common Stock
[F6][F2][F3]2025-12-17$4.33/sh−100$433→ 6,084,066 total(indirect: See footnote) - Sale
Common Stock
[F7][F2][F3]2026-03-04$4.65/sh−6,823$31,727→ 6,077,243 total(indirect: See footnote) - Sale
Common Stock
[F8][F2][F3]2026-03-05$4.59/sh−4,290$19,691→ 6,034,293 total(indirect: See footnote)
Footnotes (8)
- [F1]On May 19, 2020, Africa Capitalization Fund Ltd. ("AFCAP") a Mauritius limited company primarily engaged in the business of investing in securities disposed of 2,103,069 shares of Common Stock for an aggregate sale price of $8,412,276, representing an approximate price of $4.00 per share.
- [F2]The Reporting Person may be deemed to beneficially own shares of Common Stock held indirectly through three funds managed by the Reporting Person that invests third party capital in conjunction with the Reporting Person's investments: (a) IFC African, Latin American and Caribbean Fund, LP ("ALAC"), a United Kingdom limited partnership, of which IFC African, Latin American and Caribbean Fund (GP) LLC, a Delaware limited liability company, serves as general partner; (b) IFC Financial Institutions Growth Fund, LP ("FIG"), a United Kingdom limited partnership, of which IFC FIG Fund (GP), LLP, a United Kingdom limited liability partnership, serves as general partner; and (c) AFCAP.
- [F3]The Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.
- [F4]Represents shares of Common Stock acquired by the Reporting Person as a result of the Issuer's acquisition of Adumo (RF) Proprietary Limited and its subsidiaries (the "Adumo Group").
- [F5]Represents shares of Common Stock acquired by FIG as a result of the Issuer's acquisition of the Adumo Group.
- [F6]Represents shares of Common Stock sold by ALAC.
- [F7]Represents the weighted average price of Common Stock sold by ALAC on March 4, 2026, ranging from a low of $4.70 to a high of $4.62. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.
- [F8]Represents the weighted average price of Common Stock sold by ALAC on March 5, 2026, ranging from a low of $4.53 to a high of $4.64. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.
Signature
/s/ MOHAMED OMER EISSA, Name: Mohamed Omer Eissa, Title: Portfolio Manager, on behalf of International Finance Corporation|2026-03-06