KAL lists on JSE main board
Agricultural services company KaapAgri (KAL) this morning listed on the ‘speciality retailer’ sector of the main board of the JSE. The company, which has a history dating back more than 100 years, to 1912, is valued at around R4.1 billion.
Sean Walsh, Managing Director of KaapAgri, was quoted by Agri Orbit as saying:
"Listing on the JSE will make Kaap Agri visible to a wider investor audience which will draw in additional liquidity. The listing will also provide a platform for Kaap Agri to use its script for accretive merger and acquisition activities alongside organic growth."
A desire to access capital needed for organic and acquisitive growth, as well as to provide shareholders with a liquid, tradable asset, have been cited as among the reasons for the listing.
KaapAgri comprises three core divisions: Agrimark (whose branches represent the company's core business), Pakmark (which services the fruit and vegetable farming sector with packaging materials) and The Fuel Company (comprosing two arms: a retail and a fuel).
Pictured: Chris Sturgess, director commodities and key client management JSE Ltd (left) and Sean Walsh, MD of KaapAgri (right). Image credited to Agri Orbit.