[South Africa] Hosken Passenger Logistics and Rail Limited lists on the Johannesburg Stock Exchange
26-04-2018 10:34:00 | by: Bob Koigi | hits: 3577 | Tags:

Hosken Passenger Logistics and Rail Limited has listed in the "Travel and Leisure" sector of the JSE's main board. Hosken Passenger Logistics and Rail Limited is the 2nd company to list on the JSE this year.

Prejelin Naggan, head of Primary Markets at the JSE, comments on the listing:  "As Africa's largest exchange, we are pleased to welcome Hosken Passenger Logistics and Rail Limited to the JSE.  This listing will assist the company in growing its business and also provide investors with an opportunity to acquire a stake in the company and contribute to its future success."

Hosken Passenger Logistics and Rail Limited's current portfolio is rooted in the commuter bus and luxury coach segments.

Through its principal subsidiary Golden Arrow Bus Services, with over 157 years of proven operational expertise, the company aims to harness the combined institutional knowledge and skills sets to pursue further prospects in bus and coach operations and potential inroads into freight, rail and logistics operations.

Francois Meyer, Chief Executive Officer of Hosken Passenger Logistics and Rail Limited says the listing complements the company's future growth outlook. "With the positive business sentiment coming through in the market, this is an exciting time to be in the mobility and logistics sector and Hosken Passenger Logistics and Rail Limited is ideally placed to diversify its interests and grow within the sector. We also have a strong management team with in-depth knowledge of the industry who are determined and committed to our strategy."

Board Chairperson Yunis Shaik asserts that: "We believe that the listing will give our management team the platform to effectively utilise its existing competencies and systems, on a broader scale, in order to give expression to our strategy and set goals."

The listing brings the total number of Travel and Leisure companies on the JSE to 10. The sector has a total market capitalisation of R58.42 billion and contributes 0.4% to the JSE's overall market capitalisation.

The JSE currently has 371 companies listed and an overall market capitalisation of R14.44 trillion.