ANTHONY CLARK: Trying to land the best catch
Growth in global population, and healthier eating, must boost fishing stocks
Fishing company stocks, supplying a valuable commodity with a naturally rising demand, should be excellent investments.Oceana Group remains the sector heavyweight on the JSE. But last year two companies were unbundled from their respective BEE investment holdings entities.Premier Fishing & Brands was part-listed out of AEEI at R4.50 in March 2017 to raise R526m of fresh capital. A month later Brimstone part-listed Sea Harvest at R12.50 to raise R1.3bn.There were rumours consumer-brands conglomerate AVI would list its I&J fishing interests in 2017. That fell by the way. At some stage a deal will be forthcoming as I&J fails to meet the impending updated fishing sector empowerment credentials.The local fishing sector has undergone changes in the quota rules on the allocation of species. This is to be implemented as a BEE transformative update by the department of agriculture, forestry & fisheries (DAFF) in 2020 under its Fishing Rights Allocation Process. This wants greater economic tr...
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