If it goes ahead, the move is intended to free up shareholder value and make a better investment case
Diversified financial services group Vunani is considering unbundling its private equity business and listing it separately, in a bid to improve transparency in its financial reporting, it said on Thursday.
The proposed spin-off will see Vunani’s private equity business list separately on the JSE within 12 months of the transaction, which is aimed at unlocking value for shareholders. The move comes months after the company announced a leadership shake-up aimed at better managing its various business divisions. It saw group CEO Ethan Dube being replaced by former Vunani Fund Managers CEO Butana Khoza in April.
The fund management and advisory company also focuses on coal processing and commodities trading. It blamed its financial performance on the its commodities trading business, which encountered disruptions at its main operating site.
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