Retail tycoon Christo Wiese eyes new venture
Plans take shape to move Tradehold assets into new-look niche financial services company VestIN
Retail tycoon Christo Wiese — best known for his large investments in Shoprite, Steinhoff International and Brait — looks set to build a new niche financial services hub. An announcement from Wiese-controlled investment company Tradehold on Wednesday proposed the spinning out of specialist financial services operations Mettle and UK-based asset-backed lender Reward into low-key VestIN, which has a primary listing on the Bermuda Stock Exchange and a suspended secondary listing on the JSE. It appears VestIN — which might hold a market capitalisation of R500m to R700m — will provide a small platform from which other financial services assets can be accumulated. Market talk is that asset manager Prescient — owned by another Wiese-affiliated company, Stellar Capital Partners — could be ushered into the new-look VestIN. Wiese has previously shown a penchant for financial services, having built a short-lived banking constellation around Boland Bank and BoE in the late 1990s. Tradehold join...
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