Unbundled RMI a windfall for investors
RMI’s unbundling is a windfall for investors, who now get pure access to Outsurance, the jewel in the crown
23 September 2021 - 05:00
Rand Merchant Investment Holdings’ decision to unbundle its stake in Discovery (25%) and Momentum Metropolitan Holdings (MMH) (27.3%) may have been a long time coming, yet the effect on RMI’s shares was electric.
As Abax portfolio manager — and RMI shareholder — Anthony Sedgwick points out, RMI was trading at a 29% discount to its sum of the parts until the announcement, which pushed the share price up almost 20% early this week...
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