Grindrod looking to list shipping business before June
Transport and logistics group Grindrod said on Tuesday that it would decide in the current quarter to proceed with a proposal to separately list its shipping business.
The aim of the separate listing is to unlock value in the shipping segment, which the company believes is not reflected in its current share price.
The Durban-based company hopes to list the business before June on a yet to be named international exchange once it obtains all regulatory clearance.
Grindrod shares were off 2.2% to R14.25 in early afternoon trade on the JSE, valuing the company at R10.9bn.
Source: BDpro