Clover aims to raise R500m in JSE listing

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Dairy company Clover is confident that its listing on the main board of the JSE, through which it hopes to raise R500-million in a private share placement, will improve its ability to access capital that would result in growth for its business, as well as the businesses of its shareholders.

The company, which currently has dairy producers as its main shareholders, will list on the JSE on December 14 and will issue 47,6-million shares to certain institutional investors and existing shareholders at between R9 and R12 a share.

Investors would be required to buy shares worth a minimum of R100, 000.

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