Capitec director, Jean Pierre starred, sold all his shares on Tuesday. That was 5,000 shares at a total of R7.2m. He said it was a personal decision to sell now.
Pierre, one of the best-known short sellers in South Africa, became an independent non-executive director of Capitec at the beginning of 2015. Before long, he was outspoken in his criticism of African Bank, which collapsed in 2014.
The money generated from the sale is believed to be used by Pierre for the new hedge fund company he recently started, Protea Capital Management.
He does not intend to resign as Capitec’s director. Well-known fund manager Piet Viljoen noted on Twitter that Verster sold his shares.
Acoording to Iress Capitec’s share price was trading at its highest level of R1 455.29 on Tuesday.
