JSE LISTING PLANNED
Sea Harvest aims to raise R1.5bn
Black-owned fishing company Sea Harvest — which delisted from the JSE in 2000 – is aiming for a return to the bourse late next month and hoping to hook new shareholders through a large private placement. Enduring empowerment group Brimstone Investment Corporation – which is the controlling shareholder of Sea Harvest — on Wednesday confirmed speculation in Business Day and Financial Mail around floating its fishing subsidiary. Brimstone CEO Mustaq Brey disclosed that Sea Harvest – a hake specialist that also controls the Australian Stock Exchange-listed seafood business Mareterram — would look to raise a hefty R1.5bn in new capital via a prelisting private placement. Sea Harvest was first listed on the JSE in 1993, but was delisted seven years later when the then controlling shareholder Tiger Brands bought out minority shareholders. Sea Harvest will be the second fishing company listing on the JSE in 2017, with African Empowerment Equity Investments recently confirming the listing of...
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