South African brewer eyes London

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The Independent Online
South African brewer eyes London

SOUTH AFRICAN BREWERIES, the country's second largest company and the world's fifth largest brewer, is considering abandoning Johannesburg and seeking a primary stock exchange listing in London. Graham Mackay, SAB managing director, said the company would make a decision before the end of the year. SAB would be the third major South African company to shun the Johannesburg exchange in favour of a London listing. Last week, Anglo- American, the mining company, said it was moving to London. Last year, when Gencor spun off Billiton, another mining giant, it chose London, not Johannesburg, for the company's initial public offering.

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