Econet Wireless Zimbabwe wants out of the Zimbabwe Stock Exchange, and the telco plans to break off its towers and real estate into a separate company called Econet Infrastructure Company Limited before listing that new entity on the US dollar-based Victoria Falls Stock Exchange instead. The board says the company trades at a massive discount compared to other African telecoms that have already split up their infrastructure assets, which apparently get valued way higher when they're standalone businesses.
Shareholders who don't want to hold stock in a private company can bail out through a voluntary exit deal that pays partly in cash and partly in shares of the new infrastructure spinoff. Econet will keep 70 percent of the infrastructure company and use up to 30 percent to settle exits, with an independent expert figuring out what those shares are actually worth.
Shareholders who don't want to hold stock in a private company can bail out through a voluntary exit deal that pays partly in cash and partly in shares of the new infrastructure spinoff. Econet will keep 70 percent of the infrastructure company and use up to 30 percent to settle exits, with an independent expert figuring out what those shares are actually worth.
