JP Morgan takes a liking to Shoprite, Capitec and Sibanye
US financial services major now one of Shoprite’s largest shareholders with a stake of more than 7%
08 October 2024 - 05:00
US financial services major JP Morgan has increased its stake in SA’s largest retail group, Shoprite, to more than 7%, with its interest in the Brackenfell-based company valued at about R12.5bn, making it one of the group’s largest shareholders.
Shoprite, valued at just under R172bn on the JSE, said on Friday that JP Morgan, run by celebrated investment banker Jamie Dimon, had increased its stake in the group to 7.33%...
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