Super Group: Decision on SG Fleet listing pending

Super Group said yesterday a public offering of SG Fleet shares would not be made in South Africa if Australian private equity firm Champ Ventures proceeded with a proposed initial public offering (IPO) to dispose of its minority interest in its subsidiary, SG Fleet. The listed transport, logistics and automotive company said Champ Ventures was considering alternatives for its 42 percent minority interest in SG Fleet, including a proposal to undertake an IPO of ordinary shares by way of an offer for the sale of its existing shares in SG Fleet and its listing on the Australian Securities Exchange. It said a final decision had not yet been made on whether to proceed with the IPO. Super Group shares dropped 0.55 percent to R26.95 on the JSE yesterday. – Roy Cokayne