FirstRand stock slide erases millions from Johan Burger’s portfolio
South African businessman Johan Burger sees $3.03 million dip in FirstRand stake
South African businessman Johan Burger sees $3.03 million dip in FirstRand stake
This decline reverses a $1.51 million gain between Oct. 9 and 18, when Pullinger's stake rose from $31.52 million to $33.03 million.
In its appeal, FirstRand argues that motor dealers should not be held to fiduciary standards or be required to provide impartial advice.
This marks a significant milestone for Pullinger, who holds a 0.13 percent stake, equivalent to 7,079,000 ordinary shares in FirstRand.
Laurie Dippenaar currently holds a 1.76-percent stake in FirstRand, amounting to 98,726,988 shares, making him one of South Africa’s leading investors.
This issuance brings the total amount outstanding under the company’s seven-year bond program to R41.01 billion ($2.22 billion).
Pullinger’s newfound wealth cements his status as one of South Africa’s most affluent executives.
The $31.46-million increase in the market value of Dippenaar’s investment in FirstRand solidifies his position as one of South Africa’s wealthiest businessmen.
RMB, the corporate and investment banking arm of FirstRand advised on a groundbreaking $160-million deal.
Dippenaar maintains his position as one of South Africa’s leading investors and one of the most affluent business executives across the African continent.
Despite the notable decline in his stake’s value, Dippenaar remains a top investor on the JSE and one of the most affluent business leaders on the African continent.