Why Altron could unbundle Netstar next
Altron CEO Mteto Nyati
Fresh from thesuccessful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?
Bytes was listed on the main board of the London Stock Exchange on Thursday with a secondary listing on the JSE. Altron said more than R7-billion in shareholder value was realised through the Bytes demerger.
Now, with Altron confirming in a statement that it is considering further options to unlock shareholder value, the attention of its board and management team may turn next to Netstar, its vehicle tracking and recovery business, whose competitors including Cartrack and Mix Telematics are worth more than the entire Altron group.