Photo by: Duane Daws
Branded consumer goods and beverages group Clover Industries, operating in South Africa and other selected African countries, has successfully listed on the Namibian Stock Exchange (NSX), following approval from the NSX for a secondary listing.
Clover nonexecutive chairperson Werner Büchner said in a statement on Wednesday that the dual listing of the company under the share code CLN would provide investors with further diversification options on the NSX. It would also help Clover build deeper relationships with its Namibian stakeholders, including its 80 employees and the Namibian society at large.
The development further provided local investors with the opportunity to directly participate in the group’s value creation as well as provide input on the strategic direction of the business, Clover CEO Johann Vorster noted.
“Simultaneously, our objective through Clover’s continued involvement in the Namibian market is to provide shoppers with a greater choice of exceptional-quality products while creating robust competition to the benefit of the consumer.”
NSX CEO Tiaan Bazuin noted that the addition of Clover to the NSX main board deepened and diversified the investment opportunities for the Namibian market, which was what the NSX strived for in terms of the Namibian Financial Sector Strategy.
The primary listing of Clover would remain on the main board of the JSE, where the company listed in December 2010.