It’s been a rarity to gain a listing on the JSE. Not all of the handful of new listings have gone well. Southern African-based fast moving consumer goods distribution and marketing business CA Sales could be considered an example of this.
The company was initially listed on the Cape Town Stock Exchange. The stock trundled along, but the plans of the majority shareholder, PSG Group, to unbundle and CA&S’s decision to move its listing to the JSE in late June caused CA&S to be off to the races...