Loading...
See More

Rand Merchant Insurance makes JSE debut

Mar 07 2011 13:22 I-Net Bridge

Company Data

RMB HOLDINGS LIMITED [JSE:RMH]

Last traded 0
Change -0,18
% Change 0
Cumulative volume 283985
Market cap 88.80bn

Last Updated: 22-12-2014 at 02:59. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

RMB earnings to double

Outsurance listing a fillip for investors

RMB embarks on major asset revamp

FirstRand sells off Outsurance

MMI shares fall on listing

Tribunal to rule on RMB revamp

 
Johannesburg - Rand Merchant Insurance Holdings (RMI), which houses all of RMB Holdings' former insurance divisions under one roof, started trading on the JSE on Monday.

The separate listing is part of RMB's restructuring which has resulted in the creation of separate insurance and banking entities.

RMI Holdings holds a 25% interest in the ordinary shares of health insurance group Discovery Holdings Limited, a 90% interest in the ordinary shares of OUTsurance, a 76% interest in the ordinary shares of RMB-SI (Proprietary) Limited (RMB-SI) and a 24% interest in the ordinary shares of MMI Holdings.

RMI's share price has so far traded between R12.50 and R13.99 per share.

The dilutory effect of the listing saw RMB Holding's share price down 31.32% or R11.90 at noon on Monday. At one stage it was down more than 36% or R13.82.

In an abridged pre-listing statement, RMB Holdings [JSE:RMH] said the two separately listed entry points will provide investors with greater flexibility in investment choices.

"Investors in RMBH will have access to a strategic investment in a premier southern African banking group, owning preeminent banking brands that control significant elements of the profit pools of their segments; while investors in RMI Holdings will have access to a strategic portfolio of insurance investments with significant shares in the profits of various segments of the insurance market," it said.

rmb holdings  |  insurance industry  |  jse
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...