Ethos Capital Debuts On JSE Following R1.8 Billion Oversubscribed Private Placement
This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.
- Offers investors long-term capital appreciation by investing, directly and indirectly, in a diversified portfolio of unlisted investments managed by Ethos Private Equity, the largest private equity firm in sub-Sahara Africa
- Listing provides a liquid access point to enable public market investors to obtain an exposure to a diversified pool of unlisted assets and participate in Ethos Capital’s long-term growth prospects.
Mauritian-based Ethos Capital, an investment entity offering capital market investors a unique, liquid platform to gain exposure to a diversified pool of unlisted private equity type investments, today successfully listed in the “Financials – Speciality Finance” sector of the main board of the securities exchange operated by the JSE.
The opening trade in Ethos Capitals took place R10.26 per share, resulting in a market capitalisation of R1.85 billion.
Peter Hayward-Butt, Chief Executive Officer of Ethos Capital, said:
“We are proud to be listing on the JSE today. The overwhelmingly positive response to our placement affirms the strength of our company’s differentiators and prospects.
“We look forward to investing alongside Ethos Private Equity into high-potential businesses, supporting economic growth and job creation in the long term whilst simultaneously delivering value to our shareholders.”
Ethos Capital earlier successfully placed 180 000 000 A ordinary shares at R10 per share with qualifying investors, raising R1.8 billion in an oversubscribed placement. Rand Merchant Bank, a division of FirstRand Bank Limited acted as the financial adviser, sole global coordinator, bookrunner and JSE sponsor in relation to the listing.
The listing offers investors long-term capital appreciation by investing, directly and indirectly, in a diversified portfolio of unlisted investments. Ethos Private Equity - the largest private equity firm in sub-Sahara Africa – has been appointed as fund manager and advisor to Ethos Capital.
Commented Stuart MacKenzie, CEO of Ethos Private Equity:
“Growth is a central principle of Ethos Private Equity’s strategy: value is added by actively transforming the strategy, operations and finances of investee businesses, striving to make them “best-in-class”. “Through pioneering thought leadership, creativity and innovation, Ethos Private Equity has developed a long track record of sustainable investor returns.”
In its 32-year history, Ethos Private Equity has invested in 104 acquisitions of which 91 have been realised, delivering investment returns with a gross realised internal rate of return (IRR) of 37.4%.
It is anticipated that the net proceeds from the listing will be invested in the following strategies:
- Primary Investments: commitments to various funds to be raised and managed by Ethos Private Equity (“Ethos Funds”) during their respective fund-raising processes;
- Secondary Investments: acquisitions of existing Limited Partner interests in existing Ethos Funds;
- Direct Investments: acquisitions of interests in underlying investee companies alongside Ethos Funds to the extent that the Ethos Funds require co-investors in the underlying investee companies; and
- Temporary Investments: investments in a portfolio of low-risk, liquid debt instruments (including South African government bonds and other similar, low-risk, liquid instruments) for cash management purposes.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation