Linde plc, Afrox’s German parent, has made an offer to all the holders of Afrox’s shares that it doesn’t already own, and plans to delist Afrox from the JSE and Namibian Stock Exchange.
Afrox, which listed in the JSE in 1963, said in a statement yesterday the proposal was made because Linde believed the local group was more suitable for an unlisted environment, as Afrox’s low share liquidity deterred potential investors and its listing provided little benefit to shareholders.
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