FirstRand to appeal UK Court ruling on motor finance broker transparency
In its appeal, FirstRand argues that motor dealers should not be held to fiduciary standards or be required to provide impartial advice.
In its appeal, FirstRand argues that motor dealers should not be held to fiduciary standards or be required to provide impartial advice.
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 decline is primarily attributed to local investors reducing their holdings in the renowned Johannesburg-based financial services provider.
The funding consists of a $200 million direct loan from IFC and up to $50 million mobilized through the managed co-lending portfolio program.
This significant gain further cements his position as one of South Africa’s wealthiest businessmen.
This issuance brings the total amount outstanding under the company’s seven-year bond program to R41.01 billion ($2.22 billion).
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.
Dippenaar holds a 1.76-percent stake in FirstRand, which translates to 98,726,988 shares in the group.
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.
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.