South Africa’s Pioneer Food to spin-off Quantum unit

South Africa’s Pioneer Food Group said on Friday it planned to spin-off its Quantum Foods unit with the aim of listing it as a separate entity on the Johannesburg stock exchange on October 6.

The company said a detailed listing statement would be released in due course. Quantum Foods produces eggs, chicken products and animal feed.

Pioneer’s share price rose 1 percent to 123.27 rand. Source: Share Net