Delisting For Dunlop Africa?

Dunlop Africa, the only tyre company listed on the Johannesburg Stock Exchange is moving closer to delisting. Its competitors being subsidiaries of global players Goodyear, Bridgestone/Firestone and Continental. The proposal is due before the Competition Commission this week and if accepted, Dunlop will delist from the JSE Securities Exchange on February 25.

The group announced its plans in December, citing Dunlop’s status and the lack of liquidity in its shares as the reasons for delisting. The company believes that the transparency required by the listing specifically the need to release results every six months disadvantaged Dunlop with its competitors..