Remgro previously had a direct exposure to FirstRand of 3.92% of the bank’s market cap. FirstRand is the owner of FNB, RMB and WesBank, and has a market cap of over 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
Earlier this year, the group continued this disposal by selling 51,966,739 additional FirstRand shares in the market from 2 February 2026 to 10 March 2026.<\/p>\n\n\n\n
At an average price per share of R93.87, Remgro’s sales totalled R4,878 million for the February to March sales. The latest R3,593 million adds to the previous sale. <\/p>\n\n\n\n
\u201cThe proceeds from the disposal add to Remgro\u2019s strategic cash resources, which are managed in accordance with its capital allocation framework,\u201d said Remgro previously. <\/p>\n\n\n\n
Remgro\u2019s history dates back to the founding of the Rembrandt Group by Anton Rupert. Anton\u2019s son, Johann, is now the company\u2019s chair and the nation’s richest man.<\/p>\n\n\n\n
In 1988, Rembrandt underwent a major split, with its international assets 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\u2019s other major holdings include Mediclinic, OUTsurance, Seacom, the Blue Bulls, Heineken, Rainbow Chicken and many more.<\/p>\n\n\n
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