Nimbus Infrastructure Limited, Namibia’s first listed Capital Pool Company (CPC), has increased its shareholding in Paratus Namibia to 51.4% in a share swap transaction.
Paratus Namibia forms part of Paratus Africa, the fastest growing and largest privately-owned Pan African telecoms operator.
Nimbus acquired 8% of the issued share capital in Paratus for a cash payment of N$20-million and the balance of N$75-million through subscription of newly issued shares in Paratus resulting in a 20.1% dilution of existing shareholders.
As a significant shareholder in Paratus Namibia, Nimbus will now secure a firm foothold in the ICT sector. This will serve as a stable platform for the NSX listed company to grow and expand.
This transaction will broaden the company’s capital base and enable its aggressive expansion plans and infrastructure rollout. Paratus plans to invest a total of more than N$150-million on infrastructure in Namibia over the next three years of which N$100-million will be invested in fibre infrastructure.
“A consolidated interest in Paratus Namibia will make Nimbus an attractive investment partner, as Nimbus will be able to unlock unique synergies from future investment opportunities through its strategic alliance with Namibia’s largest independent telecommunications operator,” said Nimbus co-founder and CIO Romé Mostert.