Traders peck reluctantly at Gold Brands Investments’ listing
GOLD Brands Investments, which owns the Chesanyama fast food franchise, saw a relatively bland listing on the JSE’s AltX on Friday.The share finished at 112c after registering its first trade at 200c. Trading volumes topped 575,000 — but most share dealing was in small batches that would suggest the participation of mainly retail investors.Gold Brands’ listing was "via introduction", raised at listing. The company had previously placed 25-million shares at 100c with employees and franchisees. The company has an anchor investor in Circle Food Group, an empowerment company focused mainly on the food and beverage sector.Prime movers Praxia and Stylianos Nathanael, which sold The Fish and Chip Co to Taste Holdings in 2012, each retain 25.1% of Gold Brands.By the end of last year Gold Brands had 331 stores, including smaller formats such as 1+1 Pizza, the Black Steer, Pitaland and Wild Wings.Ms Nathanael has predicted the company would operate 320 Chesanyama stores by the end of the mont...
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