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VENTURES AFRICA – JSE-listed transport firm, Super Group, is considering an initial public offering (IPO) of its ordinary shares, it said on Thursday.
Super Group, which has a controlling stake in SG Fleet Group (SG Fleet), said the IPO will be conducted by selling current shares of SG Fleet, Australia’s vehicle and management firm which also has a presence in the UK and New Zealand.
In addition, Super Group will list SG Fleet on the Australian Securities Exchange.
The IPO, according to Super Group, will be at a fixed price of A$1.85 a share. This suggests a market capitalisation of SG Fleet on listing of A$449 million ($402m).
Once the IPO has been completed, Super Group will continue to have a 50.6 percent controlling stake in SG Fleet Group.
Shares of SG Fleet are expected to commence trading on the Australian Securities Exchange early in March this year.