NSX welcomes Clover on board
Clover Industries Limited a leading branded consumer goods and beverages group operating in South Africa and other selected African countries, today successfully listed on the Namibian Stock Exchange under the share code CLN, following approval from the Namibia Stock Exchange for a secondary listing.
The primary listing of Clover will remain on the main board of the Johannesburg Stock Exchange, where the Clover listed in December 2010. Salient points raised by Namibia Stock Exchange Chairman David Nuyoma indicated that the listing would provide Namibian investors with an opportunity to directly own a stake in Clover while Johann Vorster, Chief Executive Officer of Clover believed the listing would broaden Clover’s investor base while deepening relationships in Namibia. Werner Büchner, Non-Executive Chairman of Clover said, “This is indeed a momentous occasion. I believe that this dual listing will provide investors with further diversification options on the Namibia Stock Exchange. We are furthermore optimistic that this listing will help Clover build deeper relationships with its Namibian stakeholders, including its 80 employees and Namibian society at large.”
“Clover’s dual listing today on the Namibian Stock Exchange provides local investors with an opportunity to directly participate in the Group’s value creation as well as provide input on the strategic direction of the business,” said Chief Executive Officer of Clover, Johann Vorster. Added Vorster, “At the same time, our objective through Clover’s continued involvement in the Namibian market is to provide shoppers with a greater choice of exceptional quality products whilst creating robust competition to the benefit of the consumer.”
Following Vorster’s remark, Tiaan Bazuin, Chief Executive Officer of the Namibian Stock Exchange said, “We welcome all listings and adding Clover to the Namibia Stock Exchange Main Board deepens and diversifies the investment opportunities for the Namibian market, which is what the Namibia Stock Exchange strives for in terms of the Namibian Financial Sector Strategy.”