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Byline: Marc Hasenfuss
REINET INVESTMENTS Rolling its own The market appears to be turning away from Reinet Investments despite its value growth in the last quarter of 2011.
At the time of writing, Reinet's discount to its portfolio of assets had extended to almost 25%, which is wide for an investment trust type company.
Independent Securities estimates Reinet's current net asset value (NAV) at R18,24/share using a value of around R30bn for the company's anchor investment in British American Tobacco (BAT).
The widening of the discount in the first few weeks of 2012 was not halted by a positive management statement covering the third quarter to …