A QUIET takeover and shareholder change is looming at Masimba Holdings (Masimba), as a deep-pocketed and acquisitive investor has snapped up a 20 percent stake.
This comes as the Zimbabwe Stock Exchange (ZSE) has been hit by a number of deals, including ZB Financial Holdings Limited’s alleged takeover by another bank, Powerspeed and Starafrica corporation’s foreseen takeover by Innscor Africa or one of its associates.
While Masimba’s chief executive Canada Malunga says they were not aware of “such a transaction, as there is usually a lag with the company’s share transfer secretaries”, data accessed from the local bourse shows that 25 230 600 shares in the company — representing 10,44 percent shareholding — were traded between November 15 and December 8.
“…if it is a recent development it will take a bit of time before it reflects on our share registry,” h
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