Reinet Investments (Reinet), the Luxembourg-based investment firm led by South African billionaire Johann Rupert, has exceeded $75 million in cumulative share buybacks after repurchasing another 1,633,429 ordinary shares worth more than $43 million in September as part of its ongoing share buyback programme on the Johannesburg Stock Exchange.

The company said it made the latest purchases between August 31 and September 18, 2026, for approximately €37.8 million ($43.23 million), excluding transaction costs. The shares were bought at an average price of R432.47, with purchases ranging from R423.33 to R439.53 per share, excluding transaction costs.

The latest transactions bring the total of its share repurchases under its current buyback programme to more than 2.78 million ordinary shares, acquired for approximately R1.21 billion ($75 million), or €65.5 million, since the programme was announced.

Reinet accelerates its share buyback programme

The latest purchase extends a steady run of weekly repurchases since it launched its seventh share buyback programme in August. The company bought 588,086 shares for R255.7 million between August 24 and August 28, bringing cumulative purchases to 1.15 million shares at the time.

By September 8, the total had risen to 1.71 million shares worth R748 million ($46.6 million), before reaching 2.25 million shares and R983.8 million ($60.6 million) by September 15. The current programme forms part of a broader authorisation announced in June to acquire up to €500 million ($573.1 million) of its ordinary shares, subject to a maximum of 16.5 million shares, through successive buyback programmes leading up to its 2027 annual general meeting. The seventh programme was announced on August 13 following shareholder approval.

At the latest cumulative level, Reinet has used approximately 13% of the €500 million ($573.1 million) aggregate authorisation. The company’s share repurchases reduce the number of shares outstanding, potentially increasing the proportionate ownership of shareholders who retain their holdings. The effect on per-share value, however, depends on the price paid relative to the underlying value of Reinet’s assets.

Johann Rupert’s investment vehicle

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 Reinet’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 R1.21 billion ($75 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.