Market Wrap - stock pick — Remgro
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Waldo du Plessis from Nitrogen Fund Managers chose Remgro as his stock pick of the day
"I'm going with the Remgro simply because they're doing a corporate action. They own 30% of Remgro's nav in RMH and on Wednesday they will be unbundling that RMH stake to investors. So, you're getting RMH essentially at a 30% discount, and on the 22nd of this month RMH will be unbundling their FirstRand stake to investors. So as a Remgro shareholder you stand to get some FirstRand shares at the end of June you at quite an attractive valuation for the long term."
"I'm going with the Remgro simply because they're doing a corporate action. They own 30% of Remgro's nav in RMH and on Wednesday they will be unbundling that RMH stake to investors. So, you're getting RMH essentially at a 30% discount, and on the 22nd of this month RMH will be unbundling their FirstRand stake to investors. So as a Remgro shareholder you stand to get some FirstRand shares at the end of June you at quite an attractive valuation for the long term."
