Quinton van Rooyen, the renowned Namibian businessman and CEO of Trustco Group Holdings, has witnessed a substantial downturn in the market value of his stake in the investment holding company Trustco. The decline, amounting to nearly $10 million, can be attributed to a sharp decrease in the conglomerate’s share price since October 30.
Van Rooyen’s stake in Trustco, as tracked by Billionaires.Africa, has plummeted by R180.72 million ($9.77 million) within the span of nine days, reflecting the continued trend of local bourse investors offloading their interests in the investment holding firm.
Trustco, a diversified investment holding firm primarily owned and managed by the Namibian van Rooyen family, has traditionally prided itself on its investments in premium assets across the financial services and resources sectors. These investments have consistently delivered sustainable, long-term growth for stakeholders.
Quinton van Rooyen: A resilient figure in the face of million-dollar losses
Quinton van Rooyen, holding an impressive 63.94 percent stake in the company, which translates to 1,004,000,060 ordinary shares, is regarded as one of Namibia’s wealthiest individuals.
The recent performance of Trustco’s shares has been less favorable, falling by 26.47 percent from R0.68 ($0.0368) on October 30 to R0.50 ($0.0270) at the time of this report. This decline has led to substantial financial losses for shareholders, including the renowned Namibian businessman.
This sharp drop has been felt keenly, resulting in a R180.72 million ($9.77 million) slump in the market value of Quinton van Rooyen’s stake in the past nine days. His stake, valued at R682.72 million ($36.89 million) on October 30, has now fallen to R502 million ($27.13 million).
Trustco Group struggles amid stock Exchange return after regulatory dispute
Trustco’s shares have been on a downward trend since its reinstatement to Johannesburg Stock Exchange trading in March 2023, following a three-year dispute with local regulators over the accuracy and completeness of the company’s financial results.
Trustco Group Holdings persists in its commitment to investing in premium assets within the financial services and resources sectors. At the same time, Quinton van Rooyen remains a prominent figure among the wealthiest investors on the Namibia Stock Exchange.
