Luxury-car tycoon becomes the biggest shareholder in Rebosis
Zunaid Moti now owns more than the property group’s founder and says he will be a buyer at the right price
SA tycoon Zunaid Moti, best known for his luxury-car dealerships, has long-term plans to raise his stake in struggling property group Rebosis, he told Business Day on Thursday, shortly after he upped his stake to almost 10%, becoming the biggest individual shareholder.
“There is value in Rebosis. There is still positive net asset value (NAV) in the stock. I am a buyer at the right price even for more shares,” Moti said. “Over time it will turn. It’s property. I feel comfortable. This is moving from being a speculative investment to consider keeping it longer.”