April 29, 2020 / 7:44 AM / a month ago

South Africa's PSG Group mulls unbundling stake in Capitec Bank

April 29 (Reuters) - Investment holding firm PSG Group Ltd said on Wednesday it was “seriously considering” separating its stake in Capitec Bank to avoid an increase in administrative burden under a new legislation that may deem it a status of financial conglomerate.

PSG Group is the largest shareholder in Capitec Bank, with a near 31% stake. PSG has a market capitalisation of ZAR 36.92 billion ($2.00 billion). ($1 = 18.4924 rand) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)

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