Home » South African banker Alan Pullinger gains $1 million from FirstRand stake

South African banker Alan Pullinger gains $1 million from FirstRand stake

Pullinger's stake in FirstRand surpasses $19 million, cementing his position among South Africa’s most affluent executives

by Mfonobong Nsehe
Alan Pullinger

Alan Pullinger, the multimillionaire South African banker and outgoing CEO of FirstRand, has experienced a substantial surge in the market value of his stake, riding the recent upswing in FirstRand’s shares on the Johannesburg Stock Exchange.

In the past 15 days alone, the market value of Pullinger’s stake in the leading financial services provider has surged by R20.5 million ($1.09 million), fueled by increased investor interest in the shares of the top financial services group.

FirstRand’s robust performance drives market capitalization beyond $19 billion

FirstRand, renowned for its financial services portfolio, including FNB, RMB, WesBank, and Aldermore, boasts active operations in South Africa, the UK, and regional markets in Sub-Saharan Africa, solidifying its position as a top player in the financial services industry.

Pullinger, a leading business executive in South Africa and outgoing CEO of the financial services group, holds a minority stake of approximately 0.1 percent, equivalent to 5,634,679 ordinary shares in the lender.

Since Oct. 27, FirstRand’s shares have increased by 6.07 percent, rising from R59.94 ($3.201) to R63.58 ($3.395) at the time of drafting this report. This upward trajectory delivered gains to shareholders and propelled the group’s market capitalization beyond $19 billion.

Alan Pullinger’s stake in FirstRand surpasses $19 million

According to data tracked by Billionaires.Africa, the market value of Pullinger’s stake in FirstRand has risen by R20.5 million ($1.09 million) in the past 15 days, rising from R337.74 million ($18.04 million) on Oct. 27 to R358.25 million ($19.13 million) at the time of writing.

This surge not only underscores the robust performance of FirstRand in the financial market but also highlights Pullinger’s substantial financial gains amid the recent positive momentum in the Johannesburg Stock Exchange.

Investors continue to closely watch the dynamic developments surrounding FirstRand as it maintains its upward trajectory in the market.

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