ON THE SPOT
Rand hedge Greenbay also benefits from infrastructure investment diversification
We asked CEO Stephen Delport why Greenbay, backed by bigwigs Resilient and Fortress, has been so well received
Its 15 months on the JSE have been, by any measure, spectacular. After humming along at about R1.50 for most of 2016, Greenbay’s share price kicked up a gear in April and the stock has now gained 67%, allowing it to raise a cool R7.65bn from the market in a series of oversubscribed bookbuilds. BD asked CEO Stephen Delport why Greenbay, backed by bigwigs Resilient and Fortress, has been so well received. It provides the South African investors with a rand hedge. I think all the inward-listed companies have been supported by being a currency hedge. And then our strategy itself; no one else in the South African market offers real infrastructure investment diversification. You’ve got Group Five and Consolidated Infrastructure but other than that, there’s no real global infrastructure access other than through Greenbay itself. We have very strong backing from the two founding shareholders [Resilient and Fortress]. They’ve got exceptional track records, and although we have a very short h...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.