Business / Companies
TN Bank to delist from the Stock Exchange on spurious grounds
27 Dec 2012 at 12:05hrs | Views
ECONET Wireless Zimbabwe (Econet) has assumed total control of TN Bank after TN founder Tawanda Nyambirai offloaded his stake for an equivalent value of Econet shares.
The development saw the new TN Bank majority shareholder delisting the financial institution from the Zimbabwe Stock Exchange (ZSE) where it listed as a stand-alone unit from previous parent company, Life Style Holdings, earlier this year.
Today, TN Bank traded unchanged at 19c, with the group putting out a Circular Shareholders proposing a delisting on what some analysts feel are entirely spurious grounds that the share was "illiquid".
The development saw the new TN Bank majority shareholder delisting the financial institution from the Zimbabwe Stock Exchange (ZSE) where it listed as a stand-alone unit from previous parent company, Life Style Holdings, earlier this year.
Today, TN Bank traded unchanged at 19c, with the group putting out a Circular Shareholders proposing a delisting on what some analysts feel are entirely spurious grounds that the share was "illiquid".
Source - Byo24News
