[South Africa] Johannesburg Stock Exchange welcomes Vivo Energy to its Main Board
Vivo Energy has attained a secondary listing on the Main Board of the JSE. The company listed in the "Speciality Retails" sector and is the fourth company to list this year.
Donna Nemer, Director: Capital Markets at the JSE welcomed Vivo Energy to the exchange: "Today we are proud to be listing Vivo Energy – a leading retailer and marketer of Shell-branded fuels and lubricants in Africa. A listing on the JSE provides an excellent platform for the next stage of the company's development."
Created in 2011 Vivo Energy has a network of more than 1,800 service stations in 15 countries across North, West, East and Southern Africa; markets its products to commercial customers; and exports lubricants to more than ten other African countries.
"Vivo Energy has a primary listing in London and we are very excited to provide a home for them as they seek to raise capital in the African continent. We are confident that they have chosen the right venue to list as listing on the JSE will provide them with deeper pools of capital and more liquidity," added Nemer.
Bringing Vivo Energy to the public markets will enable the company to further grow the business and strengthen its market leading position across Africa. John Daly, Chairman of Vivo Energy said: "The listing today represents a major milestone for Vivo Energy. We are delighted to welcome our new shareholders to the register. We have been thrilled with the level of support and interest we have had through this process from the global investor community and would like to thank all my colleagues for their hard work in reaching this significant moment in the Company's history. We look forward with confidence to the next stage of our development as a listed business."
"We have been extremely pleased with the investor response to our offer, in what has been a challenging period for the wider markets. Vivo Energy's differentiated business model, strong track record, exposure to Africa and the growth opportunity it represents has been well understood by investors. We are excited about the momentum in the business and are looking forward to delivering further growth and success as a listed company," concluded Christian Chammas, Chief Executive Officer of Vivo Energy.
The listing brings the total number of companies listed in the Speciality Retailers sector to three. Currently, the JSE has 372 companies listed with a total market capitalisation of R14.47 trillion.