Reinet Limited has completed its sixth share repurchase programme, spending more than R1bn to buy back 2.5 million shares.
The investment company, controlled by Johann Rupert, confirmed the completion on Thursday, marking another step in its ongoing strategy to return capital to shareholders.
The buyback programme is set to continue until the company's 2027 Annual General Meeting.
Reinet has consistently used share repurchases as a tool to manage its capital structure, particularly when it views its portfolio of investments—including stakes in Richemont, Remgro, and Steinhoff—as undervalued or when seeking to optimise earnings per share.
This latest round of repurchases underscores the group's commitment to shareholder returns amidst a volatile market environment.
By reducing the number of shares in circulation, Reinet aims to enhance the value of remaining shares, a move that typically resonates positively with investors seeking capital efficiency.