Grindrod still mulls over foreign shipping listing
It says domestic and international regulatory requirements for a proposed international listing had prevented a final decision
Freight, shipping and financial services group Grindrod has delayed determining where a separate listing of its shipping business on a recognised international stock exchange will take place. It says domestic and international regulatory requirements for a proposed international listing had prevented a final decision being taken before the end of 2017. The group said the "various processes required with the different regulators in the relevant jurisdictions are taking longer than initially expected". Work was continuing and "based on current timing estimates the Grindrod board aims to make its final determination … in the early part of 2018", said the group. In September 2017, when it announced its results for the half-year to June, Mike Hankinson, independent nonexecutive chairman of Grindrod, acting as executive chairman after former CEO Alan Olivier retired in July 2017, said that the listing process had made good progress and would be complete in the first half of 2018. Grindrod...
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