Econet values its equity at 2X market cap

Econet Tech City is a planned US$1 billion high-tech industrial park and self-sustaining smart hub in Harare, which spans an 800-acre site near Robert Gabriel Mugabe International Airport.

ECONET Wireless Zimbabwe (Econet) says its implied equity value is in excess of US$1,78 billion, almost twice its Zimbabwe Stock Exchange (ZSE) market capitalisation of approximately US$902,58 million. The valuation is based on an alternative value discovery mechanism the group recently undertook to better facilitate value enhancement and preservation for shareholders. The telecommunication giant, which…

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