Johannesburg - Newly unbundled business support services group Mvelaserve (MVS) on Monday debuted on the JSE, after unbundling from Mvelaphanda Group [JSE:MCG].
As at 11:30 local time, Mvelaserve's share price was unchanged at R13.50.
The listing and unbundling of Mvelaserve comes as Mvela Group has said it is committed to unlock value for Mvela Group shareholders through the unbundling of the group's assets.
In June, Mvela Group unbundled its interest in Life Healthcare Group Holdings [JSE:LHC] and listed Life Healthcare on the JSE in June 2010.
Mvelaserve's portfolio of services includes security firm Protea Coin, facilities management unit TFMC, catering and cleaning business Royalserve, and freight services division Contract Forwarding, among others.
Mvelaserve also comprises a food manufacture and King Pie franchising operation and Zonke, the monitor of limited pay-out machines across South Africa.