Meat retailer Best Cut will list on the JSE's Development Capital Market on Monday January 14, it said on Friday.
Best Cut Limited will be coming to the market via a reverse listing into the Integrear cash shell. After the listing, it will apply to have its listing moved to the JSE's AltX to benefit from the junior market's enhanced tradability.
The company's black economic empowerment partner is StratEquity, which has bought 25 million Best Cut shares at 80 cents each.
Thomas Hill, a director of Armarium and Best Cut, said the group's empowerment status should help place it in a favourable position with its customer base - which includes major supermarket retailers such as Checkers, Shoprite, Rhino Cash and Carry and the Spar Group - and should serve to help open up new distribution opportunities for its products.
Best Cut owns butcheries and meat processing factories in KwaZulu-Natal and retails its branded products through the major supermarket retail chains countrywide. It plans to expand its brands onto the shop shelves in Gauteng, which consumes about 31% of the country's red meat.
Article via I-Net-Bridge