First time in the group’s history
Christo Wiese no longer largest Shoprite shareholder
Shoprite’s just-released 2019 annual report reveals that during the 12 months to end-June 2019 Wiese sold 19-million ordinary Shoprite shares
Christo Wiese, who established Shoprite 40 years ago, has reduced his holding in the grocery retailer to just over 10% and for the first time in the group’s history is no longer the single largest holder of ordinary shares.
The latest sale of shares by Wiese raises questions about the continuation of the complicated Shoprite control structure, which involves deferred shares held only by Wiese.