The Listing of TWK

Our Client

TWK is a diversified agriculture and forestry company, headquartered in Piet Retief, Mpumalanga. It operates mainly in Mpumalanga and Kwazulu-Natal, but with business interests in several other provinces as well as in Eswatini. TWK operates businesses in the Timber, Agricultural Retail, Mechanisation, Grain, Financial Services and Motor & Tyre industries.

Solution Required

TWK Investments required a solution to improve liquidity in the trading of its shares and to increase its ability to raise equity and debt capital from the capital markets.

Outcome

Pallidus assisted TWK Investments to delist from ZAR X and to relist on the Cape Town Stock Exchange (“CTSE”), previously known as 4AX, on 30 September 2021 and thereby became the first issuer on the CTSE.

This will be followed by a secondary listing of TWK Investments on A2X. It will enable TWK Investments to achieve the following objectives:

enhance the ability to trade in TWK Investments shares;
increase liquidity in the trading of TWK Investments shares;
positioning TWK Investments strategically better to attract institutional investors in the near future
due to open market access developments associated with A2X and CTSE;
promoting TWK Investments’ ability to raise capital and list equity and debt on a single primary exchange;
providing additional protection to TWK Shareholders having access to the CTSE client protection fund; and
having a primary listing and envisaged secondary listing on exchanges which TWK investments regard as financially sustainable in the long term

In a rapid changing world, a company with growth prospects like TWK, needs business partners that understand the unique demands of the organisation. Our business partner and corporate advisor, Pallidus, played a key role in the listing on the CTSE. TWK is positive about the move and expect that the desired outcomes will be achieved. The secondary listing on A2X will most definitely support the growth prospects of TWK.”