Connect with us

International Circuit

Liquid Telecom May File For IPO – Report

Econet Wireless Zimbabwe may be planning an initial public offering (IPO) of its subsidiary Liquid Telecom, Bloomberg reported, citing a source. Econet has announced that it is in talks that may affect its share price, and urged stockholder caution when trading its securities. Two people familiar with the matter told Bloomberg that this is because Econet is in talks about restructuring the company.

Econet has a market value of USD 3.1 billion. Econet provided no further details after urging trading caution, but the two sources told Bloomberg that the talks are related to a reorganisation.

One of the people said the restructuring may relate to plans for an IPO by Liquid Telecom, a unit of Econet that owns about 40,000 kilometers of cross-border fibre networks in Africa. Liquid Chief Executive Officer Nic Rudnick said in 2017 that an IPO was a possibility.

Last November, people familiar with the matter said that Econet was considering selling shares on the London Stock Exchange that could value the company at about USD 8 billion. – Telecom Paper

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!