CAPE TOWN – The Public Investment Corporation (PIC) has increased its shareholding in JSE-listed listed mining company Sibanye-Stillwater, the miner announced on Thursday.
In a statement on the Stock Exchange News Service (Sens) Sibanye said Africa’s largest asset manager has increased its shareholding from 9.397 percent to 10.031 percent of the total issued shares of the company.
“Sibanye-Stillwater has, as required by section 122(3)(a) of the Act filed the required notice with the Takeover Regulation Panel,” the miner said.
The PIC said in its annual report that it had lifted assets under management by R47.9 billion to R2.13 trillion in the 2018/2019 financial year. The asset manager said the growth was from an above-average portfolio performance underpinned by a sound investment strategy.
About 86 percent of the PIC’s assets are managed on behalf of the Government Employee Pension Fund, 7.8 percent is for the Unemployment Insurance Fund, while 1.97 percent is on behalf of the Compensation Commissioner Pension Fund.