South Africa's Ethos Offloads Stake In Holdsport
Johannesburg-based private equity firm Ethos has sold its remaining 12.4 per cent stake in JSE-listed Holdsport, following the IPO of the South African sports retailer in the second half of last year.
Holdsport, which operates through a network of stores under the Sportmans Warehouse and Outdoor Warehouse brands, listed at ZAR31.00 ($3.97) per share on 18 July last year and closed at ZAR41.95 ($5.37) per share on 3 April 2012. Shares were placed with a range of South African, UK and US institutional investors.
“The circa 35 per cent increase in Holdsport’s share price since listing is testimony to Ethos’ philosophy that the businesses into which we invest, are more attractive when we exit than when we originally acquired them,” Ethos partner Ngalaah Chuphi said in a statement .
“We are delighted that investors who participated in the IPO have been rewarded as the market recognises Holdsport’s impressive growth prospects.”
Last month Ethos also sold its stake in ICT services provider Atio, which was sold back to its original owners.