American banking super major JPMorgan Chase, has spent billions of rand buying Capitec shares, cementing its position as one of the lender’s biggest shareholders.
Capitec, which is seen as still having a long runway to grow and gain market share, said on Friday that JPMorgan now owns 8.37% of the group. Based on Friday’s market capitalisation, Capitec is worth about R263bn — making JPMorgan’s stake worth about R22bn...
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