Browsing: Listings

Listing of companies on stock exchanges.

Fast food giant, Simbisa Brands Ltd., the firm that controls high-profile restaurant chains across African markets, spurred its planned VFEX listing, notifying investors in a comprehensive roadmap that the deal may be through by December 2, 2022.

Simbisa, which has risen from its Zimbabwean roots to establish a formidable African network, executes its strategy through a string of high-end hospitality brands that include the flagship Chicken Inn, Pizza Inn, Creamy Inn and Bakers Inn, one of the country’s biggest bread producers.

It also holds the franchises for quick service restaurant chain; Rocomamas, Nandos and Steers, along with Galito

In a statement that disclosed Simbisa’s rationale to switch from the ZSE, the firm’s board rallied shareholders to give an emphatic nod to the transaction at an extraordinary general meeting scheduled for November 18, 2022.…

L-R Gbadebo Adenrele, CEO Investment Banking of United Capital Plc (Lead Issuing House), Abiodun Sanusi, CEO, Black Birch Capital, Julius B. Omodayo-Owotuga (Deputy Chief Executive), Akin Akinfemiwa (Chief Executive Officer) & Akin Olagbende (General Counsel) all of Geregu Power Plc and Leo Okafor, Company Secretary, United Capital Plc at the official signing ceremony for the oversubscribed N40bn 7 Year fixed rate bond issuance under the N100bn multi-instrument program of Geregu Power Plc.

Geregu Power PLC was incorporated in November 2006 as one of the unbundled companies from the now-defunct Power Holding Company of Nigeria (PHCN). The Company began operations in February 2007 to generate electric power supply to the National Grid managed by the Transmission Company of Nigeria (TCN).

Amperion Power owns 99.9 per cent of the company. Calvados holding (owned by Femi Otedola) owns 95 per cent of Amperion Power while Shangai Power owns five per cent.

Geregu Power listed 2.5 billion ordinary shares of 50 kobos each at a share price of N100 per share, valuing the company at about N250 billion on the first day. However, amid high investors demand, Geregu Power’s stock gained 10 per cent (N10) on its first trading day on the NGX to close at N110 per share from N100 per share.

The gain pushed its market capitalisation to N275 billion from the N250 billion …

The JSE has experienced a net decline in the listings on its main board as companies leave the bourse looking for alternative markets like private equity as sources of long term capital.

Listing activity on the Johannesburg Stock Exchange has been on the decline over the last 3 years. The largest and oldest bourse on the African continent reported in its financial results for 2021 that at least 25 companies de-listed from it during that year. In 2020 there were 20 companies that left the bourse and prior to that there were 24 de-listings. There were only 7 initial public offerings (IPOs) on the JSE in 2021 and only 4 in 2020. The net effect of these developments is that the number of companies listed on the JSE is shrinking. Its current state is a far cry from what it was like at its height in the nineties. At that …