UT Holdings halts plan to list on Johannesburg Stock Exchange

UT Holdings is the parent company of UT Bank, UT Logistics, UT Life Insurance, UT Properties, UT Collections, UT Private Security and UT International

UT Holdings is the parent company of UT Bank, UT Logistics, UT Life Insurance, UT Properties, UT Collections, UT Private Security and UT International






UT Holdings is suspending plans to list on the Johannesburg Stock Exchange by 2015.

The company last year told Joy Business it is working to list on the local bourse of South Africa after it established a non-bank financial institution in that country.

But Chief Executive, Prince Kofi Amoabeng, have told Joy Business their plan to suspend the move is because UT Holdings has now become very diverse.

UT Holdings is the parent company of UT Bank, UT Logistics, UT Life Insurance, UT Properties, UT Collections, UT Private Security and UT International.

Prince Kofi Amoabeng told Joy Business it has become difficult to put a figure on UT Holdings and list it on the South African market because of the entity’s many institutions.

However, Mr. Amoabeng adds that plans to expand to other countries in Africa is still being considered.

Prince Kofi Amoabeng recently disclosed to Joy Business he might soon step down as boss of the UT Bank and the Holdings company and possibly move on to chair the two institutions.

Mr. Amoabeng is currently on contract having hit the retirement age of 60.


Comments