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...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.