JPMorgan Chase now owns just over 5% of Spar's issued ordinary shares

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(Source: Spar Group website)
(Source: Spar Group website)

JPMorgan Chase & Co. has acquired a beneficial interest in Spar and now holds 5.04% of the retailer's issued ordinary shares, according to a notice to shareholders on Wednesday.

The multinational investment bank has been upbeat about South African stocks in recent weeks, with strategist David Aserkoff saying late in November that there was "further headroom" for stocks in JPMorgan's SA basket, Bloomberg reported at the time.

Foschini, Pepkor and Pick n Pay were also listed among the group's preferred retailers.

At 15:27 on Wednesday, Spar shares were trading at R188.06, 0.38% up on-day. A year ago, Spar shares were changing hands at R197.57. Five years ago, they were trading at R188.51. 

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