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.
My stock pick right now is Remgro, they are moving forward with the unbundling of the RMH asset which is a currently 28% of their net asset value. RMH is moving to unbundle their shareholding in FirstRand so you're Remgro shareholder you are going to get RMH, the shareholders are at a 28% uptick because RMH trades at 28% discount to its net asset value and then once you get your matches you're going to get FirstRand shares which is another 2-3% and uplift for the investor, so for me Remgro looks cheap at these levels.
My stock pick right now is Remgro, they are moving forward with the unbundling of the RMH asset which is a currently 28% of their net asset value. RMH is moving to unbundle their shareholding in FirstRand so you're Remgro shareholder you are going to get RMH, the shareholders are at a 28% uptick because RMH trades at 28% discount to its net asset value and then once you get your matches you're going to get FirstRand shares which is another 2-3% and uplift for the investor, so for me Remgro looks cheap at these levels.
