OUTsurance | owner

OUTsurance owner RMI to unbundle Discovery, Momentum and raise R6.5bn via rights issue

RMI have announced that it will unbundle its stakes in life-insurers Discovery and Momentum as the investment holding company looks to streamline operations in order to focus on property and casualty (P&C) insurance businesses. The unbundling will narrow the discount between its share price and the underlying value of its assets, with RMI shares skyrocketing…

owner | Sandton

Sandton City owner Liberty2Degrees limp through Covid

Sandton City mall owner Liberty Two Degrees released its half-year numbers before the opening bell this morning, with the landlord showing improved performance against the prior period, despite revenue being lower. The commentary provides insight into the tough operating landscape amongst all South African property owners, with significant negative rental reversions in the retail (26%)…