Industrial supplies conglomerate Invicta Holdings is laying the groundwork for a much-anticipated offshore listing by proposing a new global structure to cater to its international expansion ambitions. A business update issued on Wednesday indicated Invicta would create a new public company — Invicta Global — that would be domiciled in the UK. The market initially appreciated the development, adding more than 3% to Invicta’s shares. However, positive sentiment dissipated and the share finished unchanged at R35. Invicta said the rationale for the new offshore structure followed recent comments made at the release of year to end March results when the group reiterated ambitions to eventually list on an international stock exchange, in addition to its listing on the JSE. Invicta said the creation of an international holding company listed on the JSE would place the group in a better position to raise offshore funding to hedge its exposure to future offshore acquisitions. "The board bel...

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