Patrice Motsepe’s African Rainbow Capital (ARC) Investments is struggling to close the company’s huge discount to net asset value (NAV), with the group’s patience wearing thin and not ruling out delisting from the JSE — with many investment holding companies failing to convince the market of the value of their assets.
Discount to NAV is the amount by which the net asset value exceeds the share price, calculated as the share price divided by the net asset value and expressed as a percentage...
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