Johannesburg - Shares of South African conglomerate Bidvest climb over 2 percent after the company says it may list its food service unit on the London Stock Exchange.
Bidvest chief executive Brian Joffe made the comment on a conference call following the release of Bidvest's full-year results, when it reported an 11 percent profit rise, helped by favourable currency swings.
A listing of the food business could be a windfall for shareholders, as food service and catering is one of Bidvest's biggest businesses.
The company spans auto sales to shipping and has extensive operations in South Africa, Asia and Europe.
The shares are up 2.3 percent at 287.68 rand, making it the biggest advancer on the Top-40 index, which is 0.37 percent higher. - Reuters