Second fishing firm set to list on JSE in a year as quotas reallocated
Fishing companies are banking on a healthy appetite for their product and Sea Harvest is poised to be the second company in the local "ocean economy" to list on the JSE this year. Black-owned investment holding company Brimstone aims to float 53-year-old fishing company Sea Harvest by the end of March, and raise about R1.5-billion in a prelisting private placing. Its main business is catching, processing and freezing hake. At the end of last year, African Equity Empowerment Investments (AEEI), formerly known as Sekunjalo Investments, a black-owned investment holding company, was preparing to list its Premier Food and Fishing division on March 2. Brimstone and AEEI are two of the JSE's most empowered companies. This will bring to three the number of directly listed options available to investors in the sector. Oceana Group - in which Brimstone has a stake - is the only dedicated fishing listing, with a market capitalisation of R16-billion. The listing of Sea Harvest will see Brimston...
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