{"id":872322,"date":"2026-08-27T11:36:00","date_gmt":"2026-08-27T09:36:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=872322"},"modified":"2026-08-27T11:39:12","modified_gmt":"2026-08-27T09:39:12","slug":"one-of-spars-biggest-investors-sells-over-r100-million-in-the-retailers-shares","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/872322\/one-of-spars-biggest-investors-sells-over-r100-million-in-the-retailers-shares\/","title":{"rendered":"One of SPAR’s biggest investors sells over R100 million in the retailer’s shares"},"content":{"rendered":"\n

SPAR\u2019s second biggest institutional shareholder has reduced its stake in the retailer, selling over R100 million worth of shares.<\/p>\n\n\n\n

The SPAR Group announced the transaction in a Stock Exchange News Service (SENS) notice on Thursday, 27 August 2026, after receiving notification from Coronation Asset Management on behalf of its clients.<\/p>\n\n\n\n

\u201cIn accordance with section 122(3)(b) of the Companies Act, No 71 of 2008, as amended, and paragraph 6.54 of the JSE Limited Listings Requirements, SPAR shareholders are hereby advised that the Company has received notification, in the prescribed form, from Coronation Asset Management (Pty) Ltd, on behalf of its clients,\u201d SPAR said.<\/p>\n\n\n\n

The notification relates to the disposal of a beneficial interest in ordinary shares in the retailer.<\/p>\n\n\n\n

Following the sale, Coronation\u2019s holding in SPAR fell to 9.53% of the company\u2019s total issued ordinary share capital, from 10.89% previously.<\/p>\n\n\n\n

Based on SPAR\u2019s approximately 192.6 million issued ordinary shares, the 1.36 percentage-point reduction represents roughly 2.62 million shares.<\/p>\n\n\n\n

The SENS announcement does not disclose the exact prices at which the shares were sold. However, based on SPAR\u2019s share price around the time of the announcement, the transaction can be estimated at between R104 million and R105 million.<\/p>\n\n\n\n

SPAR\u2019s shares were trading between R39.70 and R39.95 on 27 August. Applying those prices to approximately 2.62 million shares gives an estimated value of about R104 million to R105.3 million.<\/p>\n\n\n\n

The actual value of the transaction could therefore differ slightly depending on the prices achieved for the individual trades.<\/p>\n\n\n\n

Importantly, Coronation has not exited its investment in SPAR. Despite the disposal, it remains one of the retailer\u2019s largest shareholders, with a stake of almost 10%.<\/p>\n\n\n\n

The Public Investment Corporation (PIC), which manages assets on behalf of the Government Employees Pension Fund (GEPF), remains SPAR\u2019s largest major institutional shareholder, with a stake of about 18.6%.<\/p>\n\n\n\n

Coronation follows with 9.53%, while Allan Gray holds about 8.5%. M&G Investments is also a significant institutional investor.<\/p>\n\n\n\n

Coronation remains a major investor in SPAR<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

The reduction is therefore a relatively small change to Coronation\u2019s overall position, rather than a complete withdrawal from the retailer.<\/p>\n\n\n\n

SPAR said it had filed the relevant notification with the Takeover Regulation Panel and the Companies and Intellectual Property Commission, as required under the Companies Act.<\/p>\n\n\n\n

Coronation Asset Management is part of Coronation Fund Managers, one of South Africa\u2019s largest independent asset managers.<\/p>\n\n\n\n

The company manages investments on behalf of both retail and institutional clients and has historically been a significant shareholder in several large companies listed on the Johannesburg Stock Exchange.<\/p>\n\n\n\n

However, the SENS announcement does not provide a reason for the disposal, meaning it cannot be assumed that the transaction reflects a negative view of SPAR\u2019s future prospects.<\/p>\n\n\n\n

The company\u2019s remaining 9.53% stake also means Coronation continues to have a substantial economic interest in the retailer.<\/p>\n\n\n\n

SPAR\u2019s disclosure was made in accordance with regulatory requirements for changes in significant shareholdings.<\/p>\n\n\n\n

\u201cThe Company has filed the relevant notification with the Takeover Regulation Panel and the Companies and Intellectual Property Commission, as required in terms of sections 122(3) and 122(3A) of the Companies Act,\u201d SPAR said.<\/p>\n\n\n\n

The disposal consequently leaves Coronation with roughly 18.36 million SPAR shares, based on the company\u2019s approximately 192.6 million issued shares.<\/p>\n\n\n\n

While the sale represents more than R100 million in shares at prevailing market prices, Coronation remains a major investor in SPAR and continues to hold one of the largest institutional positions in the retailer.<\/p>\n","protected":false},"excerpt":{"rendered":"

SPAR\u2019s second biggest institutional shareholder has reduced its stake in the retailer, selling over R100 million worth of shares.<\/p>\n","protected":false},"author":92,"featured_media":856831,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2092910000461029602","_sma_facebook_post_id":"191437357620492_2188054922014907","_sma_instagram_post_id":"18118927771897604","_sma_x_attempts":1,"footnotes":""},"categories":[9872],"tags":[10917,175,1364,853,9838],"class_list":["post-872322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-coronation","tag-jse","tag-sens-2","tag-south-africa","tag-spar"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/872322","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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=872322"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/872322\/revisions"}],"predecessor-version":[{"id":872336,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/872322\/revisions\/872336"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/856831"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=872322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=872322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=872322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}