Picture: REUTERS
Picture: REUTERS

Mining company Assore will delist from the JSE on May 20 after 70 years on the bourse.

The tightly held company, which produces iron ore, manganese and chrome, has been trading on the JSE since 1950 but announced in March it intended delisting for the sake of institutional shareholders, who cannot easily trade shares because of its low liquidity.

The company’s last day of trade will be on May 19, and it will delist the following day.

Assore’s share has risen 16.29% so far in 2020, compared to a 10% fall in the JSE resources index.

With Lisa Steyn

gernetzkyk@businesslive.co.za