Bloomberg News

South African Commodities Trader Mochron Plans IPO, CEO Says

October 06, 2011

(Updates with chief executive officer’s comments from second paragraph.)

Oct. 6 (Bloomberg) -- Mochron Ltd., a South African commodities trader, plans a public share sale within three years, Chief Executive Officer Julius Steyn said.

“The decision on where to list” has yet to be taken by Mochron’s board, Steyn told reporters in Cape Town today. The initial public offering “will most likely involve a main listing, with secondary listings in several other countries.”

Mochron is controlled by 64 shareholders in 20 countries. It owns the World Trade Center Africa Initiative, an affiliate of the World Trade Centers Association network, whose members operate more than 330 business centers in almost 100 countries.

The grouping aims to facilitate trade for small and medium- sized companies in the mining, energy, manufacturing and agriculture industries in sub-Saharan Africa, and earns fees on successful transactions, Steyn said.

Land worth more than $30 million has been acquired in Rwanda, Burundi, Tanzania, Namibia and the Democratic Republic of Congo that will be used to construct new World Trade Centers, Theo Poggenpoel, the initiative’s vice president for African relations, told reporters.

--Editors: John Viljoen, Tony Barrett

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net.

To contact the editor responsible for this story: Andrew Barden at barden@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus