THE G SPOT
Haters gonna hate (African Rainbow Capital)
Patrice Motsepe’s empowerment investment vehicle has been unpopular since coming to market in 2015. Now, a plan to raise R750m at R5 a share has drawn further market ire
30 November 2023 - 05:00
You could say African Rainbow Capital has been deeply unpopular since coming to market in 2015. Yet the company’s major investments include potentially lucrative assets such as rain, TymeBank and phosphate group Kropz, and it has smaller holdings in Capital Legacy and GoSolr. Its latest announcement was a R750m rights offer to shore up capital, at R5 a share — which has drawn derision from the market, partly given the company’s stated intrinsic NAV of R11.41 a share.
The FM spoke to executive director Johan van der Merwe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.