Namibian-based property firm Tradehold aims to unbundle
The restructuring aims to strengthen the focus on its property markets in the UK and SA
Namibian-based and JSE-listed Tradehold has announced it will unbundle its financial services assets, as it aims to invest solely in property. Joint CEO Friedrich Esterhuyse said that Tradehold was in the final stages of restructuring its business to strengthen the focus on its property markets in the UK and SA and that his team’s deal-making skills had led to rapid growth in the company’s asset portfolio. "As part of this process, the financial services businesses will be unbundled and listed separately to create two focused businesses, each with its own clear identity," he said. "Shareholders will receive shares in the new company equal to the number of shares held in Tradehold," Esterhuyse said. It would continue to invest in Namibian property. Its financial services assets were still small, but they were considered to be an effective platform for growth both organically and through acquisitions, Esterhuyse said. Tradehold declared a dividend of 50c per ordinary share for the yea...
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