Barclays to unbundle and list non-banking properties

Barclays Bank Zimbabwe says it will unbundle its non-core properties and list on the Zimbabwe Stock Exchange should authorities give the nod.
The financial services announced Monday that it is seeking regulatory approvals for the transaction.

“Shareholders and other stakeholders are advised that the Barclays Bank of Zimbabwe Ltd Board of Directors has approved, subject to regulatory and other approvals, including but not limited to the final regulatory approval by the Reserve Bank of Zimbabwe, the unbundling of the Company’s non-core banking properties into a separate vehicle to be listed on the Zimbabwe Stock Exchange. The primary asset included is the Company’s 50% shareholding in a property holding company called Makasa Sun (Private) Limited. Shareholders will be provided with more details in due course,” the announcement read.

Accordingly, shareholders and the investing are advised to exercise caution and should consult their professional advisors when dealing with the Company’s shares.