South African food company, Libstar Holdings, has raised ZAR3bn from its successful IPO with shares commencing trading on the main board of the Johannesburg Stock Exchange.
This comprised a primary raise of R1.5billion and a secondary sell-down of R1.5billion from existing shareholders. International investors showed significant interest in the company, comprising over 30% of the final book of demand.
Libstar is a leading producer and supplier of high quality products in the consumer-packaged goods industry. It is also a major supplier to the food services industry, with customers such as KFC and McDonalds.
Linklaters acted for Standard Bank and JP Morgan as joint global coordinators on the transaction with a team led by Corporate partners Mike Bienenfeld (picture) and James Wootton, and senior associates Alexander Parkhouse and Alexandra Buddicom.
Webber Wentzel acted as South African legal advisers to the joint global coordinators.
Law Firms: Linklaters;