|
South Africa’s Anooraq up by 4.2% in JSE secondary listing
Platinum explorer Anooraq gained 4,2% in its first day of trading on the JSE but, typically for secondary listings, trading in its shares was limited. The shares closed at 821c, 34c above the opening price, after five trades totalling 3001 shares. Anooraq, which has 148,2-million shares in issue, listed by way of an introduction, which means it issued no new shares in SA.
Its primary listing is on the Toronto Venture Capital Exchange, with a secondary listing on the American Stock Exchange (Amex). Once its projects are more advanced it plans to apply to move to Toronto's main board, which should be within two to three years. It was the first majority black-owned South African company to list in Toronto, as Pelawan Investments through the Pelawan Trust, which owns 56,25% of Anooraq as a result of combining its projects with Anooraq's three years ago.
|
