TWK Investments debuts on Cape Town Stock Exchange
Andries MahlanguAgribusiness TWK Investments has become the “first official listing” on the recently rebranded Cape Town Stock Exchange , which is looking to provide a platform for small businesses to raise capital.
The shares debuted at R35 on Cape Town Stock Exchange on Thursday, giving it market value of R1.4bn. TWK migrated from ZAR X exchange, whose operating licence was suspended in August for noncompliance with a section of the Financial Markets Act related to liquidity and capital adequacy requirements. “We are a diversified company and that is very important. We have different income streams. We are in agriculture but we have different commodities and even in those commodities we have different markets. That is what has helped to have profits even in tough times,” said CEO Andre Myburgh. He said that 2020 was the first year in 10 years that TWK could not exceed the prior year’s earnings.
The grain segment deals with the storage, processing and marketing of maize, used as an input in food products. In addition, it owns a network of vehicle dealerships and provides insurance products to farmers.
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