EOH subdivides its business
Execs are also considering spinning one of the entities off and trading the shares separately.
South African ICT firm EOH Holdings, based in Johannesburg, is splitting into two divisions and also considering spinning off one of the units and trading the shares separately. Zunaid Mayet, who recently renounced his role as EOH CEO to head Nextec, has said the split presents an opportunity to list the units separately and that, if it makes commercial sense and will unlock value for shareholders, the company will certainly explore it.
According to a statement, the ICT business will operate under the EOH brand, while the specialised solutions for high-growth industries businesses will operate under the newly launched Nextec brand.
The creation of the two independent businesses under EOH Holdings will be completed by 1 August 2018.