Afrox delisting will be bad news for JSE
American-German group Linde will buy the remaining portion of company it does not already own
African Oxygen (Afrox), which has long been one of SA’s industrial bellwethers, is set to leave the JSE after having been listed for 56 years.
Founded in 1927, the gases and welding products supplier is now a subsidiary of American-German Linde, which owns 50.47%. On Friday the two companies said in a joint announcement that Linde expressed a firm intention to buy the Afrox shares it does not already own.