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South African businessman Andre Du Plessis has recorded a significant surge in the market value of his stake in Capitec Bank as investors on the Johannesburg Stock Exchange renewed interest in the leading lender, leading to a substantial increase in its shares.
According to data tracked by Billionaires.Africa, Du Plessis, who ranks among the wealthiest investors on the Johannesburg Stock Exchange, has experienced a remarkable surge of over $9 million in the market value of his stake in Capitec Bank over the past 41 days.
Capitec Bank, known for its extensive client base, has emerged as one of South Africa’s top lenders since its establishment two decades ago.
The bank has earned a reputation as one of the world’s most respected banking brands, providing valuable transactional banking services and offering lending products such as term loans, credit facilities, and credit cards.
Du Plessis, a prominent South African businessman and co-founder of the bank in 2001 alongside South African billionaire Michiel Le Roux, as well as businessmen Jannie Mouton and Riaan Stassen, owns a beneficial 0.78-percent stake in the renowned financial services provider.
His stake in Capitec Bank, which amounts to a total of 901,106 shares, is presently valued at more than $70 million, positioning him as one of the most affluent investors on the Johannesburg Stock Exchange.
During the past 41 days, Capitec Bank’s shares on the Johannesburg Stock Exchange have surged by nearly 14 percent, rising from R1,350 ($71.83) on May 31 to R1,538.7 ($81.9) on July 11, resulting in substantial gains for shareholders such as Du Plessis, who holds a beneficial stake in the bank.
As a direct consequence of the bank’s impressive 13.98 percent increase in share price, Du Plessis’ stake in Capitec Bank has grown by R170 million ($9.04 million), skyrocketing from R1.22 billion ($64.73 million) on May 31 to R1.39 billion ($73.8 million) as of the time of this report.
