The itemizing is a part of its unbundling from RCL Meals
27 June 2024
1 minute learn
Main South African poultry producer Rainbow Rooster listed on the Johannesburg Inventory Trade on Wednesday, as a part of its unbundling from RCL Meals, reported Reuters.
RCL Meals, whose manufacturers embrace Selati sugar, Sunbake bread and Yum Yum peanut butter, says it’s restructuring its portfolio to ship sustainable earnings.
The spinning off of the Rainbow Rooster enterprise can be accomplished with the distribution of newly listed shares to RCL shareholders on a one-to-one foundation. The shares will begin buying and selling on July 1.
“Stepping out as a stand-alone entity marks a major milestone for Rainbow, carving out a singular and aggressive place out there,” CEO Marthinus Stander stated in a press release.
Rainbow Rooster was based in 1960 as a small family-owned enterprise and has grown to grow to be one among South Africa’s largestpoultry producers, with 13.4 billion rand ($734.31 million)income in 2023.
The corporate is a completely built-in rooster meat producer, working 165 farms and a number of other processing vegetation in addition to feed mills.
($1 = 18.2483 rand)
