Altron plans demerger with Bytes UK to focus on African business
The technology company plans to separately list its UK subsidiary on the London Stock Exchange
02 April 2020 - 09:43
In a bold step aimed at sharpening its focus on Africa and unlocking value trapped in its shares, Allied Electronics Corporation (Altron) plans to spin off its UK division in an initial public offering (IPO).
The decision, announced on Thursday, follows a strategic review of Altron’s portfolio which found that the value Bytes UK is not reflected in its share price, which fetches R17.80 and values the group at R7.1bn; and the division’s growth trajectory was different from the rest of the group. ..
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