WATCH: RMB Holdings to give shareholders its $8.8bn FirstRand stake
JOHANNESBURG – South African investment firm RMB Holdings (RMH) said on Tuesday it planned to distribute among shareholders its stake in lender FirstRand , worth about R130bn ($8.8 billion), as part of a restructuring.
RMH has an almost three-decade history of investing in financial services, and FirstRand was born out of the group. It is the bank’s largest shareholder with a 34% stake.
RMH’s largest investor, Remgro Ltd, has an almost 4% stake in FirstRand.
Source: iol.co.za