{"id":775141,"date":"2024-06-04T09:16:46","date_gmt":"2024-06-04T07:16:46","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=775141"},"modified":"2024-06-04T09:19:43","modified_gmt":"2024-06-04T07:19:43","slug":"new-jse-listing-right-around-the-corner","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/775141\/new-jse-listing-right-around-the-corner\/","title":{"rendered":"New JSE listing right around the corner"},"content":{"rendered":"\n

RCL FOODS plans to list its Rainbow Chicken Limited on the JSE in the coming weeks. <\/p>\n\n\n\n

The proposed unbundling was proposed in March and will see Rainbow listed on the Main Board of the JSE. <\/p>\n\n\n\n

The unbundling will see shareholders given 1 Rainbow share for no par value RCL FOODS share held. <\/p>\n\n\n\n

RCL said that the effective date of the unbundling is anticipated to be on or about Monday, 1 July 2024, but the listing of Rainbow will happen on 26 June under the share code RBO. <\/p>\n\n\n

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Source: RCL Foods<\/figcaption><\/figure><\/div>\n\n\n

“As indicated in RCL FOODS\u2019 latest group financial results for the six-month period ended December 2023, Rainbow has made significant strides in delivering on its strategy to restore through-the-cycle profitability by means of an appropriately structured and sustainable operational base,” said RCL. <\/p>\n\n\n\n

“The responses shown by Rainbow, particularly in relation to (i) the successful implementation of a change of its chicken breed (a significant change to the genetics of its breeding stock), which was completed in the current financial year, and (ii) improved operational resilience in the face of significant headwinds experienced recently, have considerably demonstrated the benefits achievable from an improved operational base.” <\/p>\n\n\n\n

Rainbow thus becomes one of the three confirmed listings on the JSE this year. <\/p>\n\n\n\n

WeBuyCars <\/a>started trading on the JSE in April, with embattled Transaction Capital trying to unlock shareholder value after SA Taxi’s dismal performance. <\/p>\n\n\n\n

Pick n Pay also announced that it will list Boxer by the end of the year as it tries to raise billions to pay off its R6.1 billion debt. <\/p>\n\n\n\n

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Massive loss for Pick n Pay<\/a><\/blockquote>