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Motsepe's ARC co-CEO starting to pile on heavily discounted shares after hinting at a buy back

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African Rainbow Capital co-CEO, Johan van Zyl has bought 2 million of ARC's discounted shares.
African Rainbow Capital co-CEO, Johan van Zyl has bought 2 million of ARC's discounted shares.
Gallo Images/Lisa Hnatowicz MEDIA 24

The co-CEO of African Rainbow Capital (ARC), Johan van der Merwe, bought two million of TymeBank's owner's shares, a day after the company said that buying back its owns shares might be one of the options it was exploring if investors backed its capital raising.

At R2.73, ARC's shares traded at more than 70% discount to the company's intrinsic net asset value per share - the inherent value of ARC stock, given its investments. ARC's market recapitalisation currently stood at around R2.9 billion.

The company had hoped to narrow the discount in its share price for some time now, but its engagements with investor societies had so far failed to produce the desired outcome.

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