Little-known Evanstan Investments has become one of Tongaat Hulett’s largest shareholders after it bought 5.18% of the agri-processing company’s total issued shares.

On March 6, Tongaat’s major shareholders were the Public Investment Corporation (PIC) with a 13.69% stake, RMB IBD Leverage Finance and Depfin Investment, each with a 9.07% interest, and Investec with 4.18%...

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