Johannesburg - Abraaj Group is planning an initial public offering of South African food and personal care maker Libstar, which may value the firm at as much as $1bn, according to people familiar with the matter.
The emerging markets buyout firm, which bought a controlling stake in Libstar in 2014, is working with JPMorgan Chase & Co. and Standard Bank Group Ltd. on a planned share sale this year which may raise about $300m, the people said, asking not to be identified as the information is private. The company is leaning toward a listing on the local stock exchange though a potential sale in London is also under consideration, the people said. No final decisions have been made, they said.
Representatives for Abraaj, JPMorgan and Standard Bank declined to comment.