Stellar Capital Partners: An enticing discount
Share price offers investors an intriguing opportunity and latest share register reveals some interesting movements too
Something is afoot at Stellar Capital Partners (SCP), judging by recent movements on the heavily discounted investment company’s shareholder register. SCP has retail tycoon Christo Wiese (still knee-deep in the Steinhoff mess) as an anchor shareholder. But the latest share register shows the emergence of three new entities as significant shareholders in recent months, and speculation is that Wiese may be getting a bid for his SCP shareholding. Financial services group Genesis Capital Partners, controlled by the Levick family, recently almost doubled its holding in SCP to around 12m shares, while Hollard-aligned Westbrooke Special Opportunities has built a position of 37m shares. But arguably the most interesting aspect is the 8.5m shares acquired by Rational Expectations — an investment vehicle associated with Capitec Bank founder Michiel le Roux. One market watcher suggests the shareholder register might be showing vultures circling over undervalued spoils. SCP, which is a curious ...
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