Table of Contents
Key Points
- Trustco Group plans to expand into the U.S. market by upgrading its American Depositary Receipts (ADR) program.
- The ADR upgrade will enable Trustco to list on U.S. stock exchanges, broadening access for American investors.
- Trustco maintains a 63.94% family ownership and recently strengthened its financial position by converting debt into equity.
Trustco Group, a leading investment holding company led by Namibian businessman Quinton van Rooyen, is set to expand its footprint in the U.S. market by upgrading its American Depositary Receipts (ADR) program.
The move will allow the company, majority owned by businessman Quinton van Rooyen and his family, to list on U.S. stock exchanges, providing broader access to American investors.
Trustco paves way for global growth
In a recent announcement, the company outlined its strategy to upgrade the ADR program, facilitating listings on U.S. stock exchanges. Deputy CEO Quinton Z van Rooyen emphasized that this initiative aims to elevate Trustco and Namibia’s presence on the global investment stage, offering U.S. investors greater access to the company’s shares and driving growth.
Trustco will maintain its primary listing on the Johannesburg Stock Exchange (JSE), alongside its existing listings on the Namibian Stock Exchange and OTCQX. Current shareholders will have the option to convert their ordinary shares into ADRs.
This move comes on the heels of a $100 million investment agreement with the Riskowitz Value Fund, a long-term U.S. investor. Trustco is optimistic that the ADR upgrade will accelerate growth and solidify its status as a leading African investment firm. The decision aligns with Trustco’s commitment to bolstering the global competitiveness of African businesses.
Trustco strengthens financial position
Headquartered in Windhoek, Trustco operates across multiple sectors, including banking, insurance, property, and wealth management. The company is known for its diverse investment portfolio and substantial assets in both U.S. dollars and Namibian dollars. Quinton van Rooyen and his family hold a significant 63.94 percent ownership stake, reinforcing their influence in the company’s operations.
Despite recent legal challenges, including a South African Supreme Court of Appeal ruling that required Trustco to pay punitive costs over a failed four-year litigation with the JSE, the company is advancing its multi-sector investment strategy. Trustco has successfully converted substantial debt into equity, strengthening its financial position and eliminating its debt burden.
