Johannesburg - Mauritius-listed nutraceutical Go Life listed on the JSE’s Alternative Exchange on Wednesday.
Its opening share price of 50c gave it a market capitalisation of R385 million under the code GLI.
The listing was a bid to broaden its investor base and afford international investors the opportunity to invest, grow awareness of its products and enable international investors to support its growth, its pre-listing statement says.
The company recently announced its pending debut and said it was seeking the inward listing on the JSE’s junior bourse after earlier this year buying the 78 percent it didn’t own in Go Life Health Products (Go LifeSA), which holds Gotha Health Products.
“Go Life International was established to leverage the strength of existing South African nutraceutical companies, Go Life SA and to drive the presence of the South African products and brands across the global nutraceutical market.”
Gotha Health Products, a subsidiary of Go Life International, has been active in promoting health support products since 2005.
Read also: Mauritian company seeks JSE listing
Go Life SA reported revenues of more than R10 million for the year to February and this is targeted to double by February 2017 and exceed R50 million by February 2018.
Go Life SA currently has more than 10 percent market share in the Eastern Cape where it originated and is establishing a larger distribution footprint that covers the rest of South Africa and is also rolling out Gotha Health Hubs.
It said on Wednesday, through the inward listing, Go Life International is now able to accommodate South African investors who are currently precluded from investing in offshore structures.
Nutraceuticals are products that provide nutrients through various formats.
Go Life group founder Gerhard Naudè says, “We are seeing great demand for natural African treatments globally, particularly from the European market. Go Life International’s products are manufactured in an established MCC registered production facility in South Africa and we plan to establish a research and production site in Mauritius. We have established marketing routes and functional distribution networks adapted to each market in South Africa, Europe and the US.”
Go Life’s products are founded on patented technologies, products, ingredients and proprietary formulas. The product range is based on a combination of selected vitamins, co-factors and minerals, as well as specific natural ingredients. These have been researched and developed by scientists and practitioners in the medical and pharmaceutical industries in South Africa, Europe and US.
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