FirstRand, Comet sales bookend vibrant week of blocks

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By Aidan Gregory
30 Apr 2021

South African investment company Remgro has reduced its stake in FirstRand, one of the country’s largest financial services groups, via an accelerated bookbuild.

Launched after the market close in Johannesburg on Thursday evening, the R2bn ($145m) sale consisted of 40m shares, a 0.7% stake in FirstRand.

JP Morgan, Morgan Stanley and Rand Merchant Bank were global co-ordinators.

The books were covered around 15 minutes after launch, according to ...

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