International Finance Corp 4

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.