South African businessman Tshepo Mahloele’s stake in Capitec Bank has risen past $1 billion, representing a gain of more than $98.26 million in just six days. This spike coincides with a robust rally in the lender’s shares on the Johannesburg Stock Exchange (JSE).
Mahloele’s shareholding in Capitec Bank has increased by R1.8 billion ($98.3 million) in the last six days. This demonstrates revived investor interest in JSE-listed shares of the top retail bank.
Capitec Bank, founded in 1999, has had a prominent position in the South African market for the past two decades. With 850 locations and 7,400 ATMs, it is a top global retail banking brand.
Over the past six days, Capitec Bank shares on the JSE have risen by 9.94%, from R2158.6 ($117.58) on June 10 to R2373.1 ($129.27) at the time of writing. This excellent performance boosted the bank’s market capitalization to $15 billion and resulted in significant rewards for shareholders.
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding, owns an indirect 7.26% ownership in Capitec Bank, which equates to 8,409,802 ordinary shares. This huge holding strengthens his status as one of South Africa’s most prominent businesses and investors.
The recent share price jump increased the market value of Mahloele’s interest by R1.8 billion ($98.26 million), from R18.15 billion ($988.86 million) on June 10 to R19.96 billion ($1.08 billion). This increase strengthens Mahloele’s status as a major investor on the JSE and a key figure in South African banking.
Capitec Bank’s outstanding performance is only one of many corporations that have generated strong year-to-date returns for investors. The company’s JSE shares have risen 17.11 percent year to date, implying that a $100,000 investment at the beginning of the year is now worth $117,110, or a $17,110 gain.
