Grit sheds more LLR stock

Monday, April 03, 2023 | 970 Views |

Pushing on: Letlole la Rona CEO, Kamogelo Mowaneng is confident LLR’s drive into Africa will bear fruits

Pan-African property firm, Grit Real Estate, has further cut its stake in Letlole La Rona (LLR), as part of a plan to eventually exit the local real estate group. Last week, Grit sold 12.6 million LLR taking its shareholding to below 10%.

The shares sold at P3.16 each, a drop from the P3.51 Grit sold previously on March 7. Prior to that, the Mauritius-domiciled entity, with roots in London, sold at P3.51 in February and P3.48 in December.

Grit at one point held more than 30% equity in LLR and was the local group’s second biggest investor after founding shareholder, the Botswana Development Corporation.

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