Agriservices business Kaap Agri — which has a fast-growing retail footprint in its Agrimark stores and The Fuel Company (TFC) — significantly did not raise capital when it listed on the JSE last year. Admittedly Kaap Agri hardly looked in need of a fresh infusion of capital at the time, and suggestions were that the company could come to the market any time for funding if an appropriate acquisition popped onto the radar. But the company might, in retrospect, have wished it had raised capital when there was still some buzz around a new agribusiness listing. After peaking at around R63.90 in mid-2017, the Kaap Agri shares have retreated rather rapidly to what at the time of writing was a new low of around R31.50. Naturally, perceptions about the business have been clouded by the prolonged drought in the Western Cape, and possibly the more wary atmosphere in agricultural circles around expropriation of land without compensation. While enthusiasm for Kaap Agri is being rapidly reined ba...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now