Econet Wireless Zimbabwe opens exit offer for delisting

A US$0.50 per share exit window is live after nearly 95% of voting shareholders greenlit Econet's breakup and ZSE departure.

Econet's exit offer mechanics

• Econet Wireless Zimbabwe opened the offer at US$0.50 per share.
• Each share gets US$0.17 cash and one InfraCo share worth US$0.33.
• Shareholders can't cherry-pick between cash-only or shares-only options.
• March 9 is the hard deadline before elections lock in.

Delisting and InfraCo listing timeline

• Econet Infrastructure Company Limited will list on the VFEX on March 31.
• Econet's ZSE delisting lands on that exact same day.
• Missing the election window means you're stuck holding post-delist shares.
• Telecom ops get carved away from real estate and tower assets.

Shareholder vote breakdown

• Roughly 94.72% of issued capital showed up at the EGM.
• Voluntary delisting passed with about 94.95% approval.
• Exit offer support clocked in at around 96.59% of voters.
• Articles of Association tweaks cleared with over 97% backing.

Market reaction after the vote

• Econet's market cap dipped roughly US$13.79 million overnight.
• Valuation slid from US$1.05 billion to about US$1.04 billion.
• That works out to a roughly 1.3% decline post-vote.
• Victoria Falls Stock Exchange becomes InfraCo's new trading home.