Commuter transport company Hosken Passenger Logistics and Rail, which operates the Golden Arrow bus service, on Tuesday became the second company this year to list on the JSE’s main board.

Welcoming Hosken to the exchange, JSE primary markets head Prejelin Naggan said that the listing should assist the company in growing its business.

Hosken’s current portfolio is rooted in the commuter bus and luxury coach segments. Through its principal subsidiary Golden Arrow Bus Services, the company intends to pursue further prospects in bus and coach operations and potential inroads into freight, rail and logistics operations.

Hosken CEO Francois Meyer commented the listing complemented the company’s future growth outlook. “With the positive business sentiment coming through in the market, this is an exciting time to be in the mobility and logistics sector.”

He added that Hosken was ideally placed to diversify its interests and grow within the sector.

“We believe that the listing will give our management team the platform to effectively [use] its existing competencies and systems, on a broader scale, in order to give expression to our strategy and set goals,” asserted Hosken chairperson Yunis Shaik.

The listing brings the total number of travel and leisure companies on the JSE to ten. The sector has a total market capitalisation of R58.42-billion and contributes 0.4% to the JSE’s overall market capitalisation. The JSE currently has 371 companies listed and an overall market capitalisation of R14.44-trillion.

Source: Creamer Media – Edited by: Mariaan Webb – Creamer Media Senior Researcher and Deputy Editor Online