Swiss-based luxury goods group Richemont, said on Tuesday that PIC's 3.13% indirect stake in the group, in the form of South African Depository Receipts, is equivalent to 32.633 million 'A' bearer shares in Compagnie Financiere Richemont SA.
Richemont South African Depository Receipts are issued by Richemont Securities AG, a wholly owned subsidiary of Compagnie Financiere Richemont SA.
In its capacity as depository, Richemont Securities AG holds one 'A' bearer share in safe custody for every 10 Richemont DRs in issue.
Richemont owns a portfolio of leading international brands or 'Maisons'.
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