First Discount House looks to be headed for a listing on the Malawi Stock Exchange in August. The financial services firm will use the IPO proceeds to enter Malawi’s merchant banking market.
Dangote Sugar Refinery won the IPO of the Year Award as presented by Africa Investor magazine. The $450 million listing was 300% oversubscribed.
Hulamin, an aluminum processor, debuted on the Johannesburg Stock Exchange (JSE) yesterday. Management expects to double sales over the next decade as they expand their 2% share of the global rolled aluminum market.
Diamond miner, Rockwell Diamonds, is shooting for a joint listing on both the Toronto and Johannesburg Stock Exchanges in September. The miner operates along South Africa’s middle Orange River and is noted for unearthing gem-quality stones.
In a tricky little reverse listing, Telepassport, a telecom cost-cutter, will join the JSE via Cenmag, an already listed holding company. Cenmag will sell all of its existing assets to make way for Telepassport’s operations. I was unable to locate a time-frame for this transaction.
Tuesday, June 26, 2007