JOHANNESBURG, Nov 19 (Reuters) - South African investment firm RMB Holdings RMHJ.J (RMH) said on Tuesday it planned to distribute its stake worth about 130 billion rand ($8.8 billion) lender FirstRand FSRJ.J to shareholders as part of a restructuring.
"The FirstRand distribution ... will be net of the settlement of the FirstRand debt and associated costs, and an appropriate capitalisation of RMH," the company said.
RMH is FirstRand's largest shareholder with a 34.06% stake in the bank.
($1 = 14.7798 rand)
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.