South African multimillionaire executive Jonathan Jawno continues to witness a remarkable surge in his wealth, buoyed by a substantial rise in the market value of his stake in Transactional Capital over the past three weeks. This surge comes amid a recent rally in the company’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Jawno’s stake in the leading financial service group has soared by R145.33 million ($7.86 million), reflecting growing confidence among local investors in the company’s prospects. This recent uptick follows a period of steady gains for Jawno, during which his holdings in Transaction Capital rose by $7.7 million between Feb. 12 and March 18.
Transaction Capital shares skyrocket
Transaction Capital’s shares on the JSE have surged by 25.5 percent from R8.00 ($0.4321) on March 20 to R10.00 ($0.5402), propelling its market capitalization above to $415 million as of the drafting of this report. This surge has resulted in significant gains for shareholders, including the affluent businessman.
As a founding member of Transaction Capital, Jawno holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares. This makes him the second-largest shareholder in the company, trailing only behind Public Investment Corporation, Africa’s largest fund manager.
Jawno’s stake in Transaction Capital surges
In recent weeks, the market value of Jawno’s stake in the Johannesburg-based financial services group has surged by R145.33 million ($7.86 million), rising from R581.34 ($31.42 million) on March 20 to R726.67 million ($39.27 million).
The surge in Transaction Capital’s share price underscores the growing investor confidence in the company’s strategic initiatives and potential for expansion. It further solidifies Jawno’s standing as a prominent figure in South Africa’s business landscape.
