South African business magnate Tshepo Mahloele has witnessed a remarkable surge in the market value of his stake in Capitec Bank Holdings Limited, following a substantial uptick in the share price of the renowned bank on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Mahloele’s stake has witnessed a substantial increase of R721.39 million ($38.52 million) in just three days, mirroring the heightened investor interest in the leading banking institution.
Capitec Bank’s market cap surpasses $13 billion amidst recent surge
Founded in 1999 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, Capitec Bank has solidified its position over the past two decades, boasting a sizable customer base. With a network comprising more than 850 branches and 7,400 ATMs across South Africa, the bank has emerged as one of the premier retail banking brands globally.
Over the past three days, Capitec Bank shares on the Johannesburg Stock Exchange have surged by 4.25 percent, climbing from R2,016.44 ($107.66) on March 5 to R2,102.22 ($112.24) at the time of this report, propelling the bank’s market capitalization beyond the $13-billion mark and delivering substantial gains to shareholders.
Capitec surge elevates Mahloele’s fortune: A $38.5-million boost in 3 days
Mahloele, who serves as the chairman and founder of Lebashe Investment Holding, holds an indirect 7.26-percent stake, equivalent to 8,409,802 ordinary shares in Capitec Bank, further cementing his stature as one of South Africa’s prominent businessmen and investors.
The recent surge in Capitec Bank’s shares has caused Mahloele’s stake to increase by R721.39 million ($38.52 million) from R16.96 billion ($905.46 million) on March 5 to R17.68 billion ($943.97 million) at the time of drafting this reporting.
This $38.5-million boost in his stake in Capitec Bank further cements his position as one of the wealthiest investors on the Johannesburg Stock Exchange, highlighting his influential role as a prominent figure in South Africa’s affluent billionaire banking sphere.
