{"id":853556,"date":"2026-03-11T09:30:00","date_gmt":"2026-03-11T07:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=853556"},"modified":"2026-03-13T08:36:58","modified_gmt":"2026-03-13T06:36:58","slug":"johann-ruperts-company-sells-shares-in-major-south-african-bank-for-r4-9-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/853556\/johann-ruperts-company-sells-shares-in-major-south-african-bank-for-r4-9-billion\/","title":{"rendered":"Johann Rupert’s company sells shares in major South African bank for R4.9 billion"},"content":{"rendered":"\n

Remgro, which was founded by South Africa’s richest family, the Ruperts, has sold close to R4.9 billion worth of shares in the banking group, FirstRand.<\/p>\n\n\n\n

Remgro’s history dates back to the founding of the Rembrandt Group by Anton Rupert. Anton’s son, Johann, is now the company’s chair and South Africa’s richest man. <\/p>\n\n\n\n

In 1988, Rembrandt saw a major split when its international assets were spun off into Richemont. The South African assets were kept in Remgro.<\/p>\n\n\n\n

The Rupert family holds all the unlisted B shares in the company, which gives them over 40% control of the company. <\/p>\n\n\n\n

Remgro acquired a direct stake in FirstRand following the unbundling of its interest in RMB Holdings<\/a> in June 2020. <\/p>\n\n\n\n

Remgro had a direct exposure to FirstRand of 3.92%, which was deemed non-core. FirstRand is the owner of FNB, RMB and WesBank, and has a market cap of R500 billion.<\/p>\n\n\n\n

By the end of the previous financial year, Remgro had sold down this residual interest in FirstRand to a holding of 1.64%. <\/p>\n\n\n\n

In the continuation of the aforementioned disposal process, Remgro had disposed of 51,966,739 additional FirstRand shares in the market over the period 2 February 2026 to 10 March 2026.<\/p>\n\n\n\n

At an average price per share of R93.87, Remgro sales in 2026 totalled R4,878 million. <\/p>\n\n\n\n

“The proceeds from the disposal add to Remgro’s strategic cash resources, which are managed in accordance with its capital allocation framework,” said Remgro. <\/p>\n\n\n\n

Remgro’s other holdings include Mediclinic, OUTsurance, Seacom, the Blue Bulls, Heineken, Rainbow Chicken and many more. <\/p>\n","protected":false},"excerpt":{"rendered":"

Johann Rupert’s Remgro has sold close to R5 billion in shares of FirstRand, with the investment holding company deeming the bank “non-core.” <\/p>\n","protected":false},"author":95,"featured_media":810101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[76,2591,2214],"class_list":["post-853556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fnb","tag-remgro","tag-rmb"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/853556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=853556"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/853556\/revisions"}],"predecessor-version":[{"id":853824,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/853556\/revisions\/853824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/810101"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=853556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=853556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=853556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}