Newly established energy company Hulisani will list on the main board of the Johannesburg Stock Exchange (JSE) in April to take advantage of investor demand for energy assets in South Africa and greater sub-Saharan Africa.
Hulisani’s investment strategy was to pursue the acquisition of, or investments in, direct or indirect minority stakes in companies operating in the energy sector.
The share capital of Hulisani would comprise 1 000 000 authorised but unissued shares and 50 000 020 issued shares at R10 a share.
The company said it aimed to pursue additional business in the energy sector, which had proven to have good growth potential.
It highlighted an increasing trend of heightened focus in the energy sector, especially in the country’s Renewable Energy Independent Power Producer Procurement Programme.
Hulisani believed that, given the growing levels of demand for energy, there would most likely be significant continued investment in the sector.
The company noted that energy infrastructure was also crucial to the development of other industries, such as infrastructure and manufacturing. This provided tangible, long-term investment opportunities for investors that had a long-term horizon with respect to their outlook.
The board believed that Hulisani was well placed to compete for, and complete, the acquisition of viable assets, given the directors’ knowledge, experience and industry-wide networks.
Hulisani was granted a listing by the JSE by private placement to raise R500-million to qualify for a listing as a special purpose acquisition company to pursue the acquisition of the viable assets in terms of the listings requirements.