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African Rainbow Capital Investments (ARC Investments), the empowered investment company backed by Patrice Motsepe, said it got a boost from its two largest investees, Rain and TymeBank. It's hopeful their imminent profitability will help it tackle persistent and hefty discount at which its share trade.
The JSE-listed investment holding company, the only asset of which is the ARC Fund, said the intrinsic net asset value (INAV) of its portfolio increased by almost 4.6% to R16 billion to end December, rising 12.9% to R11.15 on a per share basis. Over the six months, however, the latter fell 2%.
