NEW STOCK EXCHANGES
ZAR X captures TWK listing as brokers sign up
ZAR X has signed up five stockbrokers and bagged another listing, saying on Thursday agribusiness TWK Investments would list on June 12. TWK was the first in a series of listings, across many sectors, which would be announced in the coming weeks, said ZAR X CEO Etienne Nel. TWK will join agricultural group Senwes and its holding company, Senwesbel, to become ZAR X’s third listing since the exchange launched in February. ZAR X is one of three new stock exchanges, with 4 Africa Exchange and A2X Markets, to launch in SA in 2017 and challenge the JSE. With a market capitalisation of about R450m, TWK would list about 35.1-million shares, said ZAR X director Graeme Wellsted. "The offer does not involve an issue of new securities… it is a migration from an over-the-counter platform to a licensed exchange environment," he said. TWK Agricultural Holdings and its related entities held 69.77% of TWK, with the balance held by about 707 shareholders. The listing would increase TWK’s share liquid...
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