Putprop, the separately listed former property investment company of bus operator Putco, announced on Friday it was considering to delist from the JSE.

It is envisaged that the delisting will be implemented through the repurchase and cancellation of Putprop shares, excluding the shares held by Carleo Enterprises, the company's largest shareholder.

"An independent committee of the board of the company has been appointed to consider any offer made by the company to its shareholders." Putprop said in a statement.