Quinton van Rooyen’s stake drops $3.9 million amid JSE decline

Feyisayo Ajayi -
Key Points
  • Quinton van Rooyen’s Trustco shares have lost R67.9 million ($3.9 million) in market value amid ongoing pressure on the Johannesburg Stock Exchange.
  • Trustco’s stock dropped 36% in 2024, reducing its market capitalization to under $20 million, causing significant losses for shareholders.
  • Van Rooyen's stake in Trustco has fallen from $10.83 million in January to $6.93 million, highlighting the company's financial challenges.

Namibian businessman, Quinton van Rooyen, has suffered a notable decline in the market value of his shares in Trustco Group Holdings (Trustco), a Windhoek-based investment holding company, amid ongoing pullback on the Johannesburg Stock Exchange (JSE).

Van Rooyen, the company’s largest shareholder with 377.2 million shares, has lost R67.9 million ($3.9 million) in market value this year.

The decline reflects ongoing pressure on Trustco’s stock, which has fallen since its March 2023 return to the JSE following a three-year dispute over its financial reporting.

Trustco shares down by 36%, market cap drops below $20 million

Trustco, a diversified investment holding firm primarily owned and managed by the Namibian van Rooyen family, prides itself on its investments in premium assets across the financial services and resource sectors.

Shares of the investment holding company have dropped 36 percent on the JSE, falling from R0.5 ($0.0283) on January 1 to R0.32 ($0.0181).

This decline has dragged the group's market capitalization below the $20-million mark, resulting in significant losses for shareholders.

As a result, van Rooyen’s stake in the Namibia-based group has fallen from R188.6 million ($10.83 million) on January 1 to R120.7 million ($6.93 million).

Your Money and Your Life

The Namibia-based investment group's shares have plummeted 36 percent in local currency since January, exposing underlying risks.

A $100,000 stake in Trustco at the start of the year has dwindled to $67,243, eroding $32,757.25 of investor wealth.