TWK lists on the Cape Town Stock Exchange | Fin24

Timber produder TWK has listed on the Cape Town Stock Exchange.

Agricultural company TWK Investments has made its Cape Town Stock Exchange (CTSE) listing at R35 a share.

The company was the platform’s first listing following its launch on Thursday.

TWK was previously listed on ZAR X, which was suspended from trading last month. TWK’s CFO Eddie Fivaz said the group’s decision to move from the platform came before its suspension. He explained that the company had decided to list on the CTSE to enhance the liquidity of its shares and attract institutional investors.

“We realised that even though our share price performed well since it was listed on ZAR X, our problem was the liquidity of the shares, as well as attracting investors to take up some of our shares,” he said.

TWK ultimately settled on a listing with the CTSE (formerly 4 Africa Exchange). Fivaz said the move was mainly driven by CTSE assisting the agricultural company to obtain a secondary listing on A2X Markets. 

The company now has a R1.4 billion market capitalisation and although it could list on the JSE, Fivaz said listing on the CTSE and A2X is more cost-effective.

As for its growth strategy going forward, the CFO said the group will continue to look for new acquisitions. It recently acquired Peak Timbers, a plantation forest and saw milling company in Eswatini and will use the capital raised from the listings, to expand that business.

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