THE People’s Own Savings Bank (POSB) says identification of investors under the state-owned entity’s partial privatisation bid will be complete and ready for government approval in the second half of the year.
POSB is one of the state entities that have been earmarked for partial privatisation by the government. According to the bank’s 2020 financial statement, the draft due diligence and valuation reports have already been completed.
“At the time of preparing this report the draft due diligence and valuation reports were in the process of being presented to the technical committee for consideration.
“It is anticipated that the identification of the ideal investors and proposals for the listing of the bank on the stock exchange will be finalised and ready for consideration by Cabinet in the second half of the year 2021,” POSB chairperson, Israel Ndlovu, said in the fina
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