NTS plans ZSE exit, Radun buyout offer
National Tyre Services Limited will ask shareholders to approve withdrawing from the Zimbabwe Stock Exchange as Radun Investments offers to purchase minority stakes. The tire retailer reported that shares failed to trade in eight of the 12 months through July 31, with an average monthly volume of less than 3.5 million units.
Minority investors control 37.23 percent of the outstanding shares, although the actual available stock remains lower because institutional holders maintain inactive positions. The company spends disproportionate amounts on audits, publications, and regulatory compliance relative to listing benefits. Radun proposed acquiring 94.5 million ordinary shares at 2.48 cents each through a cash transaction.
Power shortages reduced retreading factory output to 30 percent capacity while branch disruptions cut sales by an estimated 40 percent. Extended Asian supply chains trap working capital in shipments for prolonged periods. The business has not distributed dividends for over 10 years, as staff turnover has eroded technical expertise.
An extraordinary general meeting will convene later in November to vote on the delisting proposal. Management plans to refurbish branches, expand service networks and introduce fleet management solutions after leaving the exchange.
