Alexander Forbes set for JSE comeback

Photo_Web_JSE_090615

File: Foreigners dumped a massive R3.1-billion of local bonds on Monday a reaction to Fridays positive US jobs data.

File: Foreigners dumped a massive R3.1-billion of local bonds on Monday a reaction to Fridays positive US jobs data.

JOHANNESBURG - Alexander Forbes returns to the Johannesburg Stock Exchange (JSE) on Thursday, with its shares retailing at R7.50.

The financial services group makes a comeback after a seven-year absence.

It delisted in 2007 when it was bought by a private equity consortium led by Actis for R8.2-billion.

Over 430-million shares will be up for sale as the company aims to raise R3.7-billion.

The initial public offering (IPO) will be jointly run by Deutsche Bank, Morgan Stanley and Rand Merchant Bank.

The pension manager will now have a market value of close to R10-billion.