African Rainbow Capital Investments , the empowered investment firm founded by Patrice Motsepe, plans to consolidate and trim its portfolio of 47 investments to about 30 over the next five years and use the proceeds to pay dividends to shareholders and buy back its own shares.
The JSE-listed investment firm, whose only asset is the ARC Fund, a vehicle with 47 investments spanning telecommunications, mining, agriculture, property, insurance, asset management and other sectors, rates the intrinsic value of that portfolio at R12.28bn. That is almost 62% larger than its R4.7bn market capitalisation, the value assigned to the listed entity by investors who hold its shares...
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