Staff Reporters
10 October 2008
Windhoek — The wholly-owned local company, Trustco Group Holdings Limited, will list on the Johannesburg Securities Exchange at the end of this month, according to JSE documents made available to the Economist this week.
According to the documents, the purpose of the listing is to create better liquidity, greater access to capital for further expansion and acquisitions, increase the shareholder base and to get regional exposure.
The Economist was also informed that Trustco would fly in eight journalists from South Africa on its plane next week so that they can tour the company's operations, ahead of the listing.
Trustco's core focus is on insurance, education and financial services.
It expanded its business operations into South Africa through the acquisition of financial services group DEX Group Financial Services (Pty) Ltd on 1 November 2007.
Trustco is also involved in real estate development and the media. It listed on the Namibian Stock Exchange (NSX) on 27 September 2006.
One of its companies, Trustco Properties, has since 1992 completed major developments in Namibia and is currently involved in an N$1 billion medium-cost housing project that will result in the construction of 1800 houses.
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