Grit sheds more LLR stock

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

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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