Shares in PSG Group — according to the latest information available on the company’s website — are offering roughly a 5% discount on the latest SOTP (sum-of-the-parts) valuation of about R55bn, or R252 per share.Financial services companies would do well to heed the investment by Rand Merchant Investment Holdings (RMI) into bitcoin exchange Luno. Though tiny in the life of the investment holdings giant, which has a market value of about R62.6bn, that the group is taking cryptocurrencies seriously arguably suggests that other financial services firms should, too. RMI has, after all, backed insurance industry successes Discovery and Outsurance, suggesting it might know a good idea when it sees one. Although admittedly unsure of "where it will land", the applications for blockchain technology, which powers cryptocurrencies, are wide, says RMI CEO Herman Bosman. "We find it extremely interesting." A shared and replicated ledger that lives on the internet, a blockchain, as its name sugge...
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