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Super Group announces IPO, listing of fleet subsidiary

Super Group announces IPO, listing of fleet subsidiary

Photo by Bloomberg

13th February 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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Logistics specialist Super Group (SG) has filed a prospectus with the Australian Securities & Investments Commission (ASIC) in respect of an initial public offering (IPO) of existing shares in its Australia-listed subsidiary SG Fleet Group and a listing of SG Fleet Group on the Australian Securities Exchange (ASE).

The IPO had been underwritten at a fixed price of A$1.85 a share, implying a market capitalisation of the vehicle leasing and fleet management services company on listing of A$449-million.

On completion of the IPO, SG would maintain a controlling shareholding in SG Fleet Group of 50.6%.

Shares of the company were expected to begin trading on the ASE on March 4.

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Edited by Tracy Hancock
Creamer Media Contributing Editor

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