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RMB Holdings
RMB Holdings Limited (RMBH), previously known as Rand Merchant Bank Holdings, is a South African diversified financial services holding company. Overview RMB Holdings is listed on the JSE with its headquarters in Sandton, South Africa. History RMB Holdings traces its roots from Rand Consolidated Investments (RCI) and Rand Merchant Bank that were founded in 1977 and 1968 respectively. RCI was co-founded by Paul Harris, Gerrit Ferreira and Lauritz Dippenaar. Its objective was to offer leveraged leasing and off-balance-sheet financing to businesses. RCI failed to secure a banking licence, this led to the firm joining forces with Johann Rupert's Rand Merchant Bank in 1985. The newly created entity took up the Rand Merchant Bank name. 1987 to 2010 In 1987, RMB Holdings was found as the holding company for the expanding Rand Merchant Bank. RMB Holdings was listed through a reverse listing when it took control of Momentum Life on 1 July 1992. RMB Holdings acquired 30% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RMB Holdings Logo
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China. Valuation Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Takeover
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public company is bought by the private company through an asset swap and share issue. The transaction typically requires reorganization of capitalization of the acquiring company. Process In a reverse takeover, shareholders of the private company purchase control of the public shell company/ SPAC and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. The transaction involves the private and shell company exchanging information on each other, ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Meridian Direct
A prime number (or a prime) is a natural number greater than 1 that is not a product of two smaller natural numbers. A natural number greater than 1 that is not prime is called a composite number. For example, 5 is prime because the only ways of writing it as a product, or , involve 5 itself. However, 4 is composite because it is a product (2 × 2) in which both numbers are smaller than 4. Primes are central in number theory because of the fundamental theorem of arithmetic: every natural number greater than 1 is either a prime itself or can be factorized as a product of primes that is unique up to their order. The property of being prime is called primality. A simple but slow method of checking the primality of a given number n, called trial division, tests whether n is a multiple of any integer between 2 and \sqrt. Faster algorithms include the Miller–Rabin primality test, which is fast but has a small chance of error, and the AKS primality test, which alway ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issues of security in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. History The term "underwriting" derives from the Lloyd's of London insurance market. Financial backers (or risk takers), who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose. Securities underwriting In the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ownership Unbundling
Ownership unbundling is the process by which a company is divested of some of its asset via legislation. This is often done to break up monopolies. Vertically integrated businesses are often ownership unbundled to achieve more competitive markets. The First Railway Directive and Third Energy Package The European Union's Third Energy Package is a legislative package for an internal gas and electricity market in the European Union. Its purpose is to further open up the gas and electricity markets in the European Union. The package was proposed ... in the EU both have this as their aims. Monopoly (economics) {{Law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rand Merchant Investment Holdings
Rand Merchant Investment Holdings, also referred to as RMI Holdings, is a listed financial services investment holding company that holds various insurance brands in South Africa, Australia, China, Mauritius, New Zealand, Republic of Ireland, Singapore, the United Kingdom and the United States of America. Overview RMI Holdings is listed on the JSE and insurance and investment products and services to retail, commercial, corporate and public sector customers. The group has its headquarters in Sandton, South Africa. History RMI Holdings was incorporated and registered in South Africa on 24 March 2010 as a wholly owned subsidiary of RMB Holdings. On 7 March 2011, RMB Holdings (RMBH)'','' ''''Remgro and FirstRand span off their insurance assets to RMI Holdings and separately listing it on the JSE. RMB Holdings Restructure The RMB Holdings restructure was announced on 10 December 2010. Its aim was to create separate focused insurance and banking entities. Prior to the restruc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Spin-off
A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. Characteristics Spin-offs are divisions of companies or organizations that then become independent businesses with assets, employees, intellectual property, technology, or existing products that are taken from the parent company. Shareholders of the parent company receive equivalent shares in the new company in order to compensate for the loss of equity in the original stocks. However, shareholders may then buy and sell stocks from either company independently; this potentially makes investment in the companies more attractive, as potential share purchasers can invest narrowly in the portion of the business they think will have the most growth. In contrast, divestment can also sever one business from another, but the assets are sold off rather ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MMI Holdings Limited
Momentum Metropolitan Holdings Limited, formerly MMI Holdings Limited, is a South African based financial services group that is listed on the Johannesburg Stock Exchange. Overview Momentum Metropolitan Holdings Limited engages in long and short-term insurance, asset management, savings, investment and employee benefits through its various brands. The Group has subsidiaries in Botswana, Ghana, Gibraltar, Guernsey, Kenya, Lesotho, Mauritius, Namibia, Nigeria, UK, South Africa and Zambia. History In July 2019 MMI took the decision to change its name from MMI Holdings to Momentum Metropolitan Holdings. The change aims to promote the well-known brand names of two of the strongest companies within the Group, Momentum and Metropolitan. MMI Holdings was formed in 2010 when Metropolitan Holdings and Momentum Group, two insurance and financial services companies in South Africa, merged their operations. Pre-Merger History Metropolitan Holdings Limited Metropolitan was fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Rand
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator. Overview Listed on the JSE and the Namibian Stock Exchange, FirstRand Limited is one of the largest financial institutions in South Africa, and provides banking, insurance and investment products and services to retail, commercial, corporate and public sector customers. In addition to South Africa, the group operates in eight key African countries, namely, Botswana, Namibia, Swaziland, Lesotho, Zambia, Mozambique, Tanzania, Ghana and Nigeria. FirstRand Bank has branches in London, Guernsey and India. FirstRand executes its strategy through a portfolio of leading financial services franchises; Rand Merchant Bank (RMB), the corporate and investment bank; First National Bank (FNB), the retail and commercial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anglo American Plc
Anglo American plc is a British listed multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America. Anglo American has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company has a secondary listing on the Johannesburg Stock Exchange. In the 2020 Forbes Global 2000, Anglo American was ranked as the 274th -largest public company in the world. History 1917–1990 Sir Ernest Oppenheimer, a Jewish German émigré, founded the Anglo American Corporation (AAC) in 1917 in Johannesburg, South Africa, with financial backing from the American bank J.P. Morgan & Co. and £1 million raised from UK and US sources to start the gold mining company; this fact ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational corporation, multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and PricewaterhouseCoopers (PwC), it is considered one of the Big Four accounting firms. It primarily provides assurance services, assurance (which includes financial audit), tax, management consulting, consulting and Corporate services, advisory services to its clients. Like many of the larger accounting firms in recent years, EY has expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting. EY operates as a network of member firms which are structured as separate legal entities in a partnership, which has 312,250 employees in over 700 offices in more than 150 countries around the world. The firm's current partnership was formed in 1989 by a merger of two acc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adrian Gore
Adrian Gore is a South African businessman and entrepreneur. He is the founder and group chief executive of Discovery Limited. Biography Gore launched Discovery Limited, a medical insurer, in South Africa in 1992. In 1992, Gore raised seed money for Discovery from Laurie Dippenaar, and other funders who founded Rand Merchant Bank. Discovery has since evolved into a diversified and multinational financial services group. Prior to Discovery limited, Adrian Gore worked at Liberty Life, an insurance and investment firm. Adrian's hobbies are running, cycling, reading. Recognition Gore graduated from Wits University in 1986. He is a fellow of the Actuarial Society of South Africa, a fellow of the Faculty of Actuaries (Edinburgh), an associate of the Society of Actuaries (Chicago), and a member of the American Academy of Actuaries. In 1998, Gore was recognised as South Africa's best entrepreneur by Ernst & Young, and in 2004 was chosen as South Africa's leading CEO in the annu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
