Murray & Roberts (M&R) has confirmed that its application to transfer its listing from the ‘Construction and Materials’ sector of the JSE to the ‘General Industrials’ sector has been approved and that the change will become effective from Monday, March 20. From that date, the company will trade under the ‘Diversified Industrials’ subsector, having previously traded under the ‘Heavy Construction’ subsector. The transfer request follows far-reaching restructuring at the company over the past two years, but has been precipitated primarily by M&R’s decision to dispose of its South African infrastructure and building businesses to a consortium led by black-empowered investment company Southern Palace.
