Pioneer Foods resolves to list on the JSE

Consumer food brands maker Pioneer Foods has resolved to list on the JSE and raise capital through a rights offer to its existing shareholders, it said on Monday.

"Shareholders are hereby informed that the board today resolved to proceed with the application for the listing, subject to the necessary statutory and regulatory approvals being obtained," the group said in statement.

It advised shareholders to exercise caution when dealing in their Pioneer Foods shares, until further information on the listing, the capital raising and the status of the conditions to list have been announced.

Neither time lines nor the amount it planned to raise were disclosed.

Published courtesy of