No appetite for Country Foods Oct 03 2007 02:22 PM Tiisetso Motsoeneng Johannesburg - Mushroom, fruit and vegetable group Country Foods (CFO) made a dull debut on the AltX on Wednesday with shares hovering around the R1 placing price, and investors showing little interest. Shares opened at R1.10 - a 10% premium on the placing price - but pulled back to trade at R1.02 just before midday. At 11:45, just over 243 000 shares worth R26 000 had changed hands. "A private placement makes it difficult for the guys to know about the stock. That''s probably why the stock hasn''t moved much and the volumes are that thin," one trader said. Country Foods, which is a processor, distributor, exporter and importer of mushrooms, fruits and vegetables, raised R30m via a private placing of 30 million shares at R1 each on Monday. The company said the listing would help it increase its footprint both locally and internationally. The company has operations in New York and it plans to start supplying finished value-added products directly to supermarkets in the European Union and the US. - I-Net Bridge

 

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