RMI to unbundle Discovery, Momentum Metropoitan stakes
Rand Merchant Investment (RMI) announced plans to unbundle its large stakes in Discovery and Momentum Metropolitan directly to its shareholders, reported Fin24 (20 September 2021).
RMI is currently the largest shareholder in both companies, owning 25% of Discovery and 27% of Momentum Metropolitan. Following the unbundling, RMI shareholders will hold shares in these companies directly. The RMI board hopes this move will unlock "material shareholder value" by shrinking the discount at which RMI currently trades to its underlying intrinsic value.