TWK Investments’s share price jumped 5.26% to settle at R13 on Monday, as the 77-year old agricultural group made its debut on the new exchange, ZAR X. TWK Investments CEO André Myburgh said he hoped the listing would improve interest and liquidity in the share, which was trading at a 50% discount to net asset value. Independent analyst Mark Ingham said the business was attractively valued and prudently managed. "It has also moved with the times and diversified," Ingham said. TWK provides products and services to the agricultural community, from timber plantation management and grain storage to finance, insurance and motor vehicle sales. It is the second agricultural co-operative to list on ZAR X, joining Senwes, which listed in February. Zeder’s Kaap Agri will be separately listed on the JSE in 2017. These listings give investors the opportunity to gain exposure to primary agriculture as an asset class. In the case of Senwes and TWK, they also indicate the emergence of interesting ...
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