South African businessman Jonathan Jawno has experienced a significant boost in the market value of his stake in Transaction Capital, with a recent increase of $2.6 million as shares in the financial services group record a substantial rebound driven by renewed buying interest.
According to data tracked by Billionaires.Africa, Jawno, a prominent figure in the country’s business landscape, has seen the market value of his stake in Transaction Capital surge by R50.87 million ($2.66 million) over the past 26 days, thanks to the recent upswing in the group’s shares on the Johannesburg Stock Exchange.
This recovery marks a positive turn of events for Jawno, who had experienced substantial losses in his stake earlier this year. From Aug. 2 to Sept. 29, the market value of his stake in Transaction Capital had seen a decline from R425.1 million ($22.63 million) to R305.93 million ($16.29 million), resulting in a loss of $6.3 million.
Jonathan Jawno’s stake in Transaction Capital is now worth $18.6 million
As a founding member of Transaction Capital, Jawno owns a 9.59-percent stake in the investment holding. The stake which amounts to 72,667,000 shares, ranks Jawno as the second-largest shareholder in the group, second only to Public Investment Corporation.
Transaction Capital is a prominent South African financial services group that specializes in asset-backed lending and niche risk services. The company is a non-deposit financial services entity operating in South Africa and Australia.
Since Sept. 29, the share price of Transaction Capital on the Johannesburg Stock Exchange has increased by 16.67-percent, rising from R4.20 ($0.219) on Sept. 29 to R4.90 ($0.256) at the time of writing this report.
The market value of Jawno’s stake in the Johannesburg-based financial services group has seen a substantial increase of R50.87 million ($2.66 million), rising from R305.20 million ($15.94 million) on September 29 to R356.07 million ($18.60 million) at the time of reporting.