The aim of the separate listing is to unlock value in the shipping segment, which the company believes is not reflected in its current share price.
The Durban-based company hopes to list the business before June on a yet to be named international exchange once it obtains all regulatory clearance.
Grindrod shares were off 2.2% to R14.25 in early afternoon trade on the JSE, valuing the company at R10.9bn.
Source: BDpro
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