A delisted PSG will still seek gems to list - as it did with Capitec and Curro

After the PSG Group unbundles its stakes in Curro, PSG Konsult and other companies in August to shareholders, the company will be a fraction of the size it is now, with its portfolio of investee companies set to be worth around R2.3 billion.

It will still hold a 20% stake in Stadio and be one of the major shareholders in the soon-to-be-listed alcohol distributor CA Sales Holdings (CA&S), which owns companies like Red Bull Distribution in Zimbabwe and the African distributor for Diageo and Heineken. But the other companies it will be left with are small and relatively unknown. These include retirement village developer Evergreen, online learning provider Optimi, Energy Partners and other, smaller companies.

READ | PSG is heading for JSE exit - but it is still preparing to list one of its businesses