Boardroom Talk: Remgro offered at 62c in Rand reflects Vintcent is spot on about JSE’s “fire sale”

South African investors are spoilt for choice right now. With low confidence in the local economy and its stock market neglected, share prices have a bargain basement look about them. Or as top money manager like ClucasGray's Andrew Vintcent describes it, the JSE seems to be having a "fire sale."

There's a reminder in the latest update from stalwart Remgro, acknowledged as among the country's best performing shares over the longer-term. Despite what the group describes as "many headwinds" during its financial year to end June, the businesses continued recovering profit now back to 17% above the pre-covid levels of 2019.

As for the stock's rating, headline earnings per share of R11.51 are less than 12 times the current share price. That's plenty appealing. The number in this week's results that will get investors salivating, though, is Remgro's intrinsic net asset value per share of R213.10. The shares are available in the open market at R133 – which means today's buyers are getting them for 62c in each rand of value.

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