Johannesburg - South African financial services firm Alexander Forbes is preparing to list on the Johannesburg Stock Exchange in the second half of next year, its chief executive said on Thursday.
Alexander Forbes was taken private in 2007 by a group of private equity investors led by London-based Actis and South African firm Ethos in a 8.8 billion rand ($861.18 million) deal.
“We have been building a company with a track record of growth and our plan is to bank at least one more year of solid growth,” Edward Kieswetter said.
“Our financial year-end is March next year and after those results we would be ready to take the company to the market at any time.”
The results would likely be released between June and July, he said.
Rand Merchant Bank, a unit of South Africa's FirstRand, and Deutsche Bank AG have been hired to manage the initial public offering, he said.
Other investors in the Johannesburg-based company are Boston-based HabourVest Partners and two Canadian fund managers, Ontario Teachers Pension Plan Board and Caisse de depot et placement du Quebec.
Alexander Forbes offers retirement funds, financial planning and insurance in Africa's biggest economy. - Reuters