Time for the JSE’s old dogs?
Grindrod’s shares have been adrift for ages. But asset sales and better earnings could make it a screaming buy
After years of a sinking share price, Grindrod might turn out to be one of the most rewarding deep-value plays on the JSE in the next two years.
As things stand, the ports and logistics specialist is offering a discount of 72% on a last-stated NAV of close to R12.40 a share. At the time of writing Grindrod’s market capitalisation was only R2.65bn on a share price of 347c.