for subscribers

Abraaj plans Libstar IPO - source

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

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.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.63
(-0.04)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.79
(-0.01)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.01)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 932 votes
It depends on how the funds are used.
74% - 6249 votes
No. We should have gotten the loan elsewhere.
15% - 1285 votes
Vote