South African dairy processor Clover Ltd is reportedly planning to float on the Johannesburg Stock Exchange.

According to Reuters, Clover’s board approved plans to list to help the company raise ZAR337m (US$48.1m).

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Milk suppliers hold around 85% of Clover, with management controlling the rest of the company’s shares.

Officials at Clover could not be reached for comment as just-food went to press.

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