Simon’s stock tips

ALTRON

Is Netstar next?

Altron is an interesting offering with serious potential for unlocking value. The Bytes UK deal richly rewarded shareholders and Netstar is a potential next demerger and listing. The Netstar business is about the same size and profitability as Mix Telematics while Cartrack is about 50% larger. Yet, Altron has a market cap of some R4.4bn, Mix Telematics is around R4.8bn and Cartrack (after the delisting announcement) is worth just over R15bn. So, it is very possible that a Netstar listed on its own would be as large as the whole Altron and we could possibly expect news on this front in the next few months.

METROFILE

The rumours are true

The initial delisting offer for Metrofile* was in December 2019 at 330c per share, but the pandemic meant