Publications
Partners
- For more financial news, go to the News24 Business front page.
SA's most valuable private hospital operator, Mediclinic, looks set to delist in London on 26 May after receiving approval from the South African Reserve Bank's financial surveillance department.
Mediclinic, which has its primary listing in London with a secondary listing on the JSE, expects its shares to be suspended on the JSE on 25 May. However, it still needs a UK court to sanction the scheme at a meeting on 24 May, and needs to announce the outcome on the JSE by 15:00 SA time for its shares to be suspended the following day. Should this not occur, its timetable will be delayed by one day.
In August, Mediclinic's board had unanimously approved a revised offer from its biggest shareholder, Remgro, in a consortium with Switzerland’s MSC Mediterranean Shipping, that values its shares at £3.7 billion (R75 billion).
READ | Mediclinic, Remgro agree on final terms of takeover bid
Valued at over R86 billion on the JSE, Mediclinic operates in Switzerland, the Middle East and in southern Africa, generating about 45% of its revenue in the European country, with roughly equal contributions from its other two operating regions.
Shares in Mediclinic were up almost 2% on Tuesday, and have climbed by almost two-thirds over the past one year. The revised 504p per share offer had represented about a 35% premium to the group's closing share price on 25 May 2022, the day before an initial offer was made.
Click here for details of Mediclinic's shares as well as other info.
