Datatec eyes Latin American listing for Logicalis

JSE-listed technology services group Datatec is exploring the possibility of listing the Latin American arm of its Logicalis subsidiary on the Brazilian stock exchange, B3.

The Latin American business is held 65% by Logicalis and 35% by Promon, with Logicalis expected to remain the majority shareholder if the listing goes ahead.

Datatec said advisers have been appointed to explore the process. It did not say why it was exploring a listing.

News of the possible listing was published after markets closed in Johannesburg on Monday. Datatec closed up 8.1% at R33.07, giving it a market capitalisation of R6.6-billion.  — (c) 2020 NewsCentral Media