RMH surges 12% as it declares special dividend, reports value gain

Shares of property-focused RMB Holdings (RMH) jumped 12% on Wednesday morning after it announced a pickup in the value of its portfolio and a special dividend.

The group's net asset value rose about 2% to R1.45 billion in the six months to end-September, relative to March, and it also opted to declare a R327 million special dividend. Its value was lifted by its most important asset, Atterbury, which also helped its cash pile after the settlement of a loan account.