Johannesburg – Printing business Novus Holdings began its first day of trading on the Johannesburg Stock Exchange (JSE) on Tuesday.
The listing was effected via private placement to eligible investors by way of an offer for subscription.
Novus listed on the main board and is included in the business support services sector.
Media24 on February 18 2015 announced its intention to list its subsidiary Novus Holdings (formerly Paarl Media Group) on the JSE, and two weeks later issued a pre-listing statement.
Novus Holdings is the third company to list on the JSE this year and the 18th company to be included in the business support services sector, which has a total market capitalisation of R27.3bn.
A subsidiary of Media24, Novus Holdings was established in 2001 and now offers a range of commercial and manufacturing printing products. Its intention through the listing is to expand into countries with solid growth potential in sub-Saharan Africa, but to continue to operate primarily in its home market.
The listing will also enable the company to consider potential opportunities such as acquisitions and expansion of its product offering.
“The JSE congratulates Novus Holdings on this exciting development. We at the JSE are encouraged by the growth momentum in listings this year and Novus’ debut is testament to the confidence the market has in the JSE as a gateway to enter capital markets,” said Donna Oosthuyse, director capital markets at the JSE.
Novus CEO Stephan van der Walt said the listing will enable Novus Holdings and its subsidiaries to attract and retain key and talented staff as well as to build a strong brand presence, while diversifying its operations in sub-Saharan Africa.
“We take this opportunity to thank our investors, employees, customers, suppliers and other stakeholders for the support Novus had received," said Van der Walt.
"They have and continue to have confidence in our growth strategy, which is primarily focused on extending and diversifying our product range in sub-Saharan Africa and through value-adding partnerships and acquisitions.”