WATCH: Iconic brand Clover to delist after merger with Milco approved
DURBAN – Clover Industries’ share price surged by more than 3.72percent on Friday after the country’s largest dairy producer submitted an application to delist its shares, and ending its nine-year presence on the bourse.
Clover, one of South Africa’s iconic brands, submitted an application to delist after the country’s Competition Tribunal approved its merger with Israel company, Milco SA.
Clover said it would officially cease trading on Wednesday, when its shares are suspended from the JSE.
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It would also delist from the Namibian Stock Exchange (NSX).
Clover said the termination of listing of its shares on the JSE and the NSX would be on October 15.
Clover’s share price jumped to R24.84 a share on the JSE on Friday, taking its market capitalisation to R4.78billion. Its shares ended the day at R24.80, 3.55percent up.
Source: iol.co.za
