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South African multimillionaire businessman Jonathan Jawno has seen the market value of his stake in Transaction Capital increase by more than 3 million in the past 22 days, thanks to the sustained surge in the shares of the financial services group.
The market value of Jawno’s stake in Transaction Capital has risen by R56.68 million ($3.05 million) in the past 22 days, driven by the surge in the shares of the leading financial service group on the Johannesburg Stock Exchange (JSE).
This surge in Jawno’s wealth follows previous gains recorded between March 20 and April 10, when his Transaction Capital stake soared by R145.33 million ($7.86 million), climbing from R581.34 ($31.42 million) to R726.67 million ($39.27 million) at the time of drafting this report.
Transaction Capital’s shares soar 32.5 percent
Transaction Capital is a South African financial services group that specializes in asset-backed lending and niche risk services. It is a non-deposit financial services company with operations in South Africa and Australia.
In recent times, its shares on the JSE have risen by 32.5 percent, increasing from R2.4 ($0.129) on April 16 to R3.18 ($0.171), propelling the group’s market capitalization above $130 million and returning substantial returns to investors.
Jawno’s stake in Transaction Capital soars
Jonathan Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares. This makes him the group’s second-largest shareholder, trailing only behind Public Investment Corporation, Africa’s largest fund manager.
As a result of the double-digit percent rise in Transaction Capital’s share price, the market value of Jawno’s stake has increased by R56.68 million ($3.05 million) in the past 22 days, rising from R174.4 million ($9.39 million) on April 16 to R231.08 million ($12.44 million).
The rise in Transaction Capital’s share price reflects growing investor confidence in the company’s strategic initiatives and potential for growth, further cementing Jonathan Jawno’s position as a prominent figure in South Africa’s business landscape.
