Johann Rupert’s “aha” moment sparks Reinet’s R10bn share buyback
LONDON — Reinet's share buyback scheme is intended to protect small shareholders from the 40% discount. Chairman Johann Rupert's inspiration came from an unlikely source. – Alec Hogg
This is the Rational Perspective. I'm Alec Hogg. In today's episode, Johann Rupert is to spend almost R10bn unlocking value at Reinet. South Africa's leading businessman Johann Rupert has taken the empire that he inherited from his father to another level. In 1988, just three after joining Anton's industrial group Rembrandt. Rupert Jr. created Richemont, which is today one of the world's top luxury goods businesses. When Richemont restructured a decade ago, its 80-million plus shares in British American tobacco, some other investments and €350m in cash was injected into the newly-established Reinet Investments – named after the Ruperts' old Karoo hometown – Graaff-Reinet. As we hear from Rupert in the podcast that follows, the company that was created in this way as a hedge against the market crash hasn't done that great because of the lengthy bull market.
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