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Thebe may boost shareholder base
EXPANSION
Thebe Investment Corporation has raised the prospects of broadening its shareholder base and listing some if its divisions, particularly Msele Financial Holdings. "We have an open mind to bringing in other shareholders when the time is right," chairman Vusi Khanyile said at Thebe's recent 5th anniversary function. Quashing speculation that Thebe, owned by Batho Batho Trust, was due to announce its imminent listing, Khanyile said a few divisions could be listed, including financial services arm Msele. Its only listed subsidiary is Moribo Investments, which listed via a reverse take-over of Opus Investments. Thebe's executive director in London, Litha Nyhonya, recently hinted at the listing of Thebe divisions. Nyhonya said Thebe expected to list some of its divisions headed by Msele within 18 months of the listing of Thebe itself. Msele holds 42% of FutureBank Holdings, which is listed and is worth about R185-million, 50.1% of Msele Hosken Group, 38% of Safrican and 45% of Msele Nedventures. Its equity partners include First National Bank, with a 25% stake in FBC Holdings, 49.9% by Forbes Group in Msele Hosken and 49% by Fedsure in Safrican. Khanyile said Thebe would expand its four divisions to six to include telecoms and broadcasting, as well as travel and tourism. The move would collapse its aviation division, which housed its 51% interest in SA Express - its joint venture with SAA - into the travel and tourism division. Assets to be included in its broadcasting and telecommunications division would include 100% owned Moribo Broadcasting. This unit houses its 25% stake in Station for the Nation, held in Moribo Investments and its 24.5% in Kaya FM, the fledgling Gauteng commercial radio station. Its partners in SFTN include Kerry Packers' Nine Network International (20%) and Kersaf (20%).
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