Motsepe firm ready to list on the JSE

JOHANNESBURG - Investment firm, African Rainbow Capital (ARC) is ready to list on the Johannesburg Stock Exchange (JSE).

The holding company co-founded by mining magnate, Patrice Motsepe said it will sell shares worth R4-billion in an initial public offering.

READ: Motsepe's ARC to take on 10% of Alexander Forbes' African business

The sale will give the company a market value of over R8-billion.

ARC plans to sell more than 470 million shares at R8.50 each.

The company said shares worth R1.9-billion will also be offered to pre-selected institutional investors.

The firm already enjoys investments from the Public Investment Corporation and Sanlam Private Wealth.