RMI to swap JSE listing with Outsurance in strategy U-turn
Short-term insurer provides the best opportunity for shareholders, says CEO Herman Bosman
16 March 2022 - 08:53
UPDATED 16 March 2022 - 19:51
In a move that marks a dramatic U-turn in strategy and heralds the end of the short-term insurance-focused investment holding company, Rand Merchant Investments (RMI) will swap its JSE listing with its R40bn crown jewel, Outsurance.
The news on Wednesday sent shares in RMI, which is also returning R2.2bn to shareholders via special dividend payout, surging 11% to R50.47 by late afternoon on the JSE, giving RMI a market value of R77.3bn...
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