Mauritian firm makes P88m bid for Imara

Tuesday, October 25, 2016

Takeover bid: Imara will delist from BSE if the deal goes through

Mauritian company, FWA Financial Limited has announced its intention to make a P88 million offer for Imara Holdings Limited (IHL), which may result in the Botswana registered firm delisting from the local bourse.

FWA already owns 28% (17 million shares) of Imara’s 59 million shares in issue. In a statement, Imara announced that FWA had tabled an offer to buy the remaining 42 million shares at a price of P2.10 per share bringing the value of the transaction to P88 million.

“The offer will be made directly to Imara’s shareholders, by FWA and independently of the Independent Board.

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