[South Africa] Libstar Holdings Limited lists on the Johannesburg Stock Exchange
Libstar Holdings Limited, a supplier of high-quality products in the consumer packaged goods industry, has listed in the "Food Products" sector of the JSE's main board.
The primary listing of Libstar Holdings Limited is the JSE's third main board listing this year.
Donna Nemer, Director of Capital Markets at the JSE says: "The exchange is proud to provide a home to Libstar Holdings Limited, which owns renowned brands such as Lancewood, Cape Herb & Spice and Goldcrest. It is encouraging to see the steady growth of this company over the years and we are confident that they have chosen the right venue to list."
Libstar began their journey in 2005, as an investment holding company investing in companies operating in Fast Moving Consumer Goods (FMCG). It is now one of the largest food and personal care manufacturers in South Africa, operating 27 business units across the country.
"We look forward to the company's future growth and assisting the company, through this listing, to support its growth prospects and among other things, invest further in their categories and manufacturing facilities," says Nemer.
Chief executive and co-founder Andries van Rensburg says the decision to embark upon a JSE listing is an exciting step in the next phase of Libstar's development and growth story.
"This is an historic day for Libstar. The business was established back in 2005 and we have grown it into an R8.8 billion turnover company with a compound annual growth rate of 23% over the last three years. We are proud to be making our debut on the JSE and giving our new shareholders the opportunity to have a stake in the future growth of the business. The R1.5 billion new capital we have raised will allow us to invest more into the business and therefore grow our range of products and expand our operations."
The listing brings the total number of companies listed in the Food Products sector on the JSE to eight. The sector has a total market capitalisation of R159 billion and contributes 1.1% to the JSE's overall market capitalisation.