Dubai’s Abraaj said to plan IPO of South African firm
Originally published in Arabian Business (link below)
Abraaj Group is planning an initial public offering of South African food and personal care maker Libstar, which may value the firm at as much as $1 billion, according to people familiar with the matter.
The Dubai-based emerging markets buyout firm, which bought a controlling stake in Libstar in 2014, is working with JPMorgan Chase & Co and Standard Bank Group Ltd on a planned share sale this year which may raise about $300 million, the people said, asking not to be identified as the information is private. The company is leaning toward a listing on the local stock exchange though a potential sale in London is also under consideration, the people said. No final decisions have been made, they said.
Representatives for Abraaj, JPMorgan and Standard Bank declined to comment.