Reinet Investments (Reinet), the Luxembourg-based investment firm led by South African billionaire Johann Rupert, has exceeded $30 million in cumulative share buybacks after repurchasing another 588,086 ordinary shares worth nearly $16 million as part of its ongoing share buyback programme on the Johannesburg Stock Exchange.

The company said the latest purchases, made between August 24 and August 28, 2026, amounted to R255.7 million ($15.5 million) at an average price of R434.7 ($26.30) per share, excluding transaction costs.

The latest transactions bring its total share repurchases under its current buyback programme to 1.15 million ordinary shares, acquired for R503.4 million ($30.4 million), or €26.9 million, since the programme was announced on August 13.

Reinet expands share repurchase programme

Reinet bought the 588,086 shares at prices ranging from R429.86 to R438.64 per share, with the average purchase price settling at R434.7. The latest purchases account for more than half of the shares acquired since the programme began, taking cumulative repurchases to 1,146,577 ordinary shares.

The buyback programme provides a mechanism to return capital to shareholders while reducing the number of shares outstanding. A reduction in shares outstanding can increase the proportionate ownership interest of shareholders who retain their holdings, although the impact on per-share value depends on the price paid and the company’s underlying asset value.

Reinet disclosed the latest transactions in an update dated September 1, 2026, confirming that the repurchases were executed on the Johannesburg Stock Exchange.

Johann Rupert’s investment vehicle builds on diversified portfolio

Reinet Investments is a partnership limited by shares incorporated in Luxembourg. Its ordinary shares are listed on the Luxembourg Stock Exchange, Euronext Amsterdam and the Johannesburg Stock Exchange, with the Johannesburg listing serving as a secondary listing.

The company gives shareholders indirect exposure to the portfolio of assets held by its wholly owned subsidiary, Reinet Fund S.C.A., F.I.S., a specialised investment fund also incorporated in Luxembourg.

Reinet emerged from the 2008 demerger of Richemont and has since developed into a diversified investment vehicle with exposure to a range of assets and businesses.

Rupert, one of Africa’s wealthiest businessmen, has played a central role in the firm’s development and is also chairman of luxury goods group Richemont. The investment firm has become an important part of his broader investment interests.

The latest buyback takes Reinet’s cumulative expenditure under the programme beyond the $30 million mark, highlighting the company’s continued use of share repurchases as part of its capital allocation strategy.

Reinet’s ordinary shares are also included in the LuxX index, which tracks the principal shares traded on the Luxembourg Stock Exchange.