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Goldman Sachs expects surge in South African IPOs

21 Jan 2014

south africa cape townInvestment bank Goldman Sachs expects a surge in South African IPOs driven by private equity exits.

Head of Goldman Sachs for sub-Saharan Africa Colin Coleman told Bloomberg that “there could be a new wave of listings because of private equity portfolio exits.”

Twelve companies were floated on the Johannesburg stock exchange in each 2013 and 2012, down from 16 in 2011.

Retailer Edcon, which is backed by Bain Capital, could consider an IPO, said the report.

He also said that other opportunities for investment banks include refinancing, risk management, the restructuring of asset pools and balance sheets.

“There will be mergers and acquisitions in South Africa, I’m just not relying on it. One of the key themes remains how to buy into Africa and South Africa is the platform,” said Coleman.

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