SHAREHOLDING
Peregrine adds to its stake in Astoria
The ‘where-to-from-here’ scenario will be intriguing, says analyst
Peregrine Equities, a subsidiary of JSE-listed financial services group Peregrine Holdings, has boosted its stake in investment stock Astoria to 20.83%. The Astoria stake was being held on behalf of clients, a Peregrine spokesman said on Wednesday, adding their identities could not be disclosed. Peregrine’s holding in Astoria has been increased steadily in 2017, from an initial 10.46% in March, to 15.57% in June. The stake is worth close to R320m, based on Astoria’s market capitalisation of about R1.55bn. It is not clear whether the shareholding represents a strategic position on behalf of clients that might be increased further or merely a large portfolio position in an undervalued international investment portfolio. Astoria was set up as a specialist investment company offering investors based in SA exposure to diversified global assets. Although the portfolio is managed by Anchor Capital, there is no outright controlling shareholder, with the largest shareholders — aside from Per...
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