
South African tycoon Laurie Dippenaar’s FirstRand gets nod for $16.2-million bond listing
This issuance brings the total amount outstanding under the company’s seven-year bond program to R41.01 billion ($2.22 billion).
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.
Burger, a former CEO and non-executive director at FirstRand, holds a 0.11-percent stake equivalent to 6,000,000 ordinary shares in the financial services giant.
FirstRand’s shares decline by 3.69 percent, market cap dips below the $20-billion mark.
Dippenaar, who co-founded Rand Consolidated Investing in 1977 and grew it into a leading financial services group, holds a 1.76-percent stake in FirstRand.
Burger, a seasoned director at FirstRand since 2009, owns a minority 0.11-percent ownership stake in the leading financial services conglomerate.
Presently, Dippenaar holds a 1.76-percent stake in FirstRand, to 98,726,988 shares — this stake makes him one of South Africa’s leading investors.
As a strategic force shaping FirstRand and its diverse subsidiaries, Dippenaar’s legacy extends beyond wealth accumulation to impactful philanthropy.
The $15.52-million bump in the market value of Dippenaar’s stake in FirstRand further cements his position as one of South Africa’s richest businessmen.
Dippenaar’s journey to financial success began in 1977 when he co-founded Rand Consolidated Investing alongside partners GT Ferreira and Paul Harris.
Burger owns a minority 0.11-percent stake, equivalent to 6,000,000 ordinary shares, in FirstRand.
Pullinger, a leading business executive in South Africa holds a minority stake of approximately 0.1 percent in FirstRand.