Grindrod says it is aiming to spin off its shipping business as a separate company listed on a stock exchange outside of its South Africa home base.
Executive chairman Mike Hankinson said the company is targeting a finish line in the first half of next year.
Johannesburg-listed Grindrod, which disclosed the efforts as it reported surging first half earnings, said its board has been mulling a move to an international stock exchange for some time because it believes the current share price does not reflect the value of the shipping business.
