Leo Stan Ekeh, the tech billionaire and Chairman of Zinox Group is planning a public listing of the Nigerian conglomerate by early 2017 to drive an ambition to be the biggest ICT group in Africa.
Plans by Ekeh to take the Nigerian company, with footprints in PC assembly, distributions, and top tickets projects in public and private sectors is currently on the drawing board, a move by owners to list on the Nigerian Stock Exchange, a credible Technology Times source conversant with internal affairs of Zinox has confirmed.
Barring any last minute change, Zinox will become a publicly-listed technology company either by late 2016 or early 2017, when owners of the business reckon they would have narrowed the gap as a “distant Number one ICT Group in Sub-Saharan Africa.”
The initial public offering (IPO) of Zinox, which will be the first time the owners of the company give up part of their stakes to stockholders, is targeted to happen latest by April 2017, when the financial year of the company begins a fresh cycle, according to the source.
“Currently, the thinking by the leadership of the Zinox Group is the focus to become the number One ICT Group on the African continent before the IPO and Ekeh is sure that this will be puled off before the new financial year of 2017”, Technology Times was told.
* Editor’s Note: Please check back for updates on this developing story