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.
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.