Alexander Forbes to list on JSE at R7.50 per share
ALEXANDER Forbes Group said on Friday it would list on JSE at R7.50 per share after successfully placing 431.9-million shares.
The financial services group will next Thursday list a total of 1.3-billion shares, giving it a market value of R9.7bn.
Alexander Forbes Preference Share Investments will hold 27.3% of shares at listing. Mercer Africa Limited will have 14.9% and Ontario Teachers’ Pension Plan Board 5%.
The company delisted in 2007 when it was bought by a private-equity consortium led by Actis for R8.2bn. A 26.5% share of the company remained listed on the JSE as Alexander Forbes Preference Share Investments.