Internet service provider DataPro is to list on the JSE`s alternative exchange, AltX.
The company says it will list initially on the development capital market, by way of a reverse listing into Casey Investment Holdings.
It is set to transfer to AltX in October, coinciding with a change of name to DataPro Group.
"We have carefully assessed our position and believe that an AltX listing is an important step in the future strategy of the company," says MD Douglas Reed.
"AltX presents us with a very good platform to continue leveraging the best return on investment for investors, grow our business, create investment opportunities and generate greater market exposure."
Casey announced in June that Level 4 Group Holdings had acquired control of 75% of the company with effect from March. At the same time, Level 4 directors entered into negotiation with DataPro management and shareholder BOE, for the acquisition of 100% of DataPro by Casey.
According to a statement by Casey, Level 4 has had a long-term relationship with DataPro, both at a director level and a business level.
It is the intention going forward that Level 4 will become the outsourcing division of DataPro but will retain the brand name of Level 4," it says. "DataPro will leverage off Level 4`s expertise in the SME [small to medium enterprise] sector, currently the highest-growth component of the Internet service provision area."
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