April 29 (Reuters) – Investment holding firm PSG Group Ltd said on Wednesday it was “seriously considering” separating its stake in Capitec Bank to avoid an increase in administrative burden under a new legislation that may deem it a status of financial conglomerate.
PSG Group is the largest shareholder in Capitec Bank, with a near 31% stake. PSG has a market capitalisation of ZAR 36.92 billion ($2.00 billion).
($1 = 18.4924 rand)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)