New SA stock exchange adds third listing

New South African stock exchange ZAR X, says it will be listing Mpumalanga agribusiness, TWK Investments, on 12 June 2017.

TWK will be the group’s third listing since the exchange commenced trading in February 2017 and will be one of the pillars of its planned agricultural index, it said.

“TWK is the first of a series of listings we will be announcing in the next several weeks,” said ZAR X co-founder and CEO, Etienne Nel. “The other listings will cover a range of different industry sectors, but TWK is significant for us in that it joins Senwes and SenwesBel, our first issuers, in demonstrating the value of agriculture as an asset class.”

TWK grew out of the Piet Retief Wattle Growers and Timber Association, which founded a co-operative in 1940. Although its initial focus was on marketing the timber and related products of its members, it rapidly expanded its focus up and downstream in the timber industry and into other areas of agriculture.

Its divisions now include timber, grain, trade and mechanisation, financial services, and motors and tyres.

Its product and service offering includes timber related products, timber marketing, fertilizer and general farming requisites, branded maize meal and animal feeds, credit facilities, insurance products, vehicles and related products .

The company has a market cap of approximately R450 million.

Read: New SA exchange ZAR X makes first listing

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New SA stock exchange adds third listing