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...

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