Sarb shares back on sale after long legal battle
Central bank’s lawyers have been grappling with activist investors since before the global crisis
The South African Reserve Bank (Sarb) has released a large number of shares for sale, having won a legal battle that has rumbled on for years.
Today (March 2) the Sarb invited "all eligible South Africans" to acquire part of a total 149,200 available shares, a sizeable chunk of the total two million issued shares. The Sarb has been 100% privately owned since it was established in 1921 – a rare case among central banks.
A court victory in November forced a group of holdout investors to sell
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