Montauk to switch primary listing to the Nasdaq
The JSE-listed company aims to target potential investors after getting approval from the Reserve Bank to move its listing to the US
JSE-listed Montauk Holdings will move its primary listing to the Nasdaq stock exchange in the US, it said on Wednesday. This will, among other things, provide the company with more access to potential investors. In 2014 Montauk was unbundled from black empowerment investment company Hosken Consolidated Investments and listed on the JSE. Montauk, which is based in Pittsburgh, extracts and converts methane gas from waste landfills across the US, where it has been engaged in commercial-scale development of renewable energy facilities for more than 30 years. “Although the company is incorporated in South Africa and its shares trade on the JSE, the company’s operations, assets, employees and customer relationships reside exclusively in the United States of America and are held by its US subsidiaries,” Montauk said in a statement. “The company believes the proposed listing will better strategically align the company with the jurisdiction in which it operates, the US programmes and policie...
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