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Kokkie Kooyman on Remgro selling 40m shares of FirstRand The FirstRand share price dropped 4% to R51 a share on Friday. Kokkie Kooyman, a banking analyst at Denker Capital, joined the BizNews Power Hour to share his analysis and said it is not a requirement to announce these changes as it is a fairly small transaction. Kokkie Kooyman on Remgro’s sale of 40 million FirstRand shares: It’s actually a fairly small transaction for Remgro and FirstRand, which at the last set of Remgro results, represented more or less 9% of earnings. In terms of market cap, the sell price is roughly 4% or 5%. I think it’s part of what they started many years ago and last year also, with a further unbundling of RMBH. But I think what is more important here for investors, is that we see this as a global phenomenon – not only in South Africa – that the days of conglomerates are basically numbered.

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