Industrial Development Corporation (IDC) has postponed its planned $3.9 billion share sale, Bloomberg reports. It was selling the shares to fund new investments, but now it does not need the money, said IDC’s CEO, Geoffrey Qhena. The South African state-owned lender previously said it expected to lend between $15.5 billion and $19.1 billion over the next five years and needed to raise $7.8-9.5 billion in funding. IDC may sell some shares in the current fiscal year, added Qhena.

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