Picture: JSE
Picture: JSE

Small-cap financial services company Efficient Group says it might delist from the JSE after a private equity group made an offer to buy out minority shareholders.

A number of other small-cap firms have left or announced plans to leave the JSE recently, including retailer Verimark, logistics provider Cargo Carriers, mining group eXtract and industrial firm Torre Industries

Efficient said on Monday that Apis Growth 12, a company incorporated in Mauritius, had submitted a non-binding expression of interest to buy all of its issued ordinary shares barring the 81.4-million shares owned by Sasfin Wealth, TBI Strategic Partners, Grondputs Beleggings, Heiko Weidhase and family, Dawid Roodt and Stefanes Booysen and family.

The deal would result in Efficient’s delisting, it said.

An independent board would be established to consider the terms of the offer.

The buyout offer follows Apis’s plans to subscribe for 27.8-million new Efficient shares, representing about 23.8% of the issued shares of the company, for R125m.

Efficient’s shares were 3.6% up at R4.34 on Monday morning.

hedleyn@businesslive.co.za