Alaris could delist from the JSE as part of R500 million buyout offer
[Johannesburg, 12 October 2021] -Radio frequency technology specialist Alaris has received a R535 million buyout bid, which could see it delisted from the Johannesburg Stock Exchange (JSE).
In a notice to the stock exchange, Alaris stated that a consortium comprising Tadvest Limited, CRH Investments, Conexus Capital Growth Fund Trust, Brazen Force Investments, Nguni Investments and Chauke Investments has offered to acquire the entire issued share capital of Alaris. This will be for R4.20 per share. Should the offer be accepted, the listing of Alaris shares on the JSE will be terminated.
Shares in Alaris rose more than 25% on Monday on the news.
In its stock exchange notice, Alaris said it and the consortium believe there is limited benefit for Alaris being listed on the JSE, "having not garnered sufficient institutional shareholder support to justify the limitations imposed by the regulatory processes and the compliance costs and other costs associated with and incidental to being listed on the JSE... [Full Story...]
