CAPE TOWN – Sagamartha Technologies, an integrated multisided platform (MSP) technology group, is set to list on the Johannesburg Stock Exchange next week Wednesday.
The company has been called an Africa’s Unicorn for the main fact that it is the first company to list on the JSE with a valuation of over over $1 billion (R11.9bn).
Why you should pay attention to Sagramatha:
The Group’s vision is premised on innovative thinking. The company is committed to a partnership approach to doing business.
Sagarmatha is wholly commitment to building products and technologies backed by an army of team members and global partners who are leaders in the fields of technology, media, commerce, and supply chain logistics.
The tech company aims to raise R7.5bn in a private placement of up to 189 million shares.
The private placement, which is open to invited investors, hopes to list a total of 1.2 billion shares on the main board of the JSE on Wednesday, April 11, this would equate to R49.7bn in market capitalisation, with the group's shares at a placement price of R39.62 per share.
Sagarmatha has aspirations to become the emerging market leader in the Fourth Industrial Revolution. To achieve this the company says it is driven towards excellence in:
E-commerce
Digital media
Syndicated content and
Technology ventures
Sagarmatha’s portfolio has 14 businesses and counts among its assets content syndication and news wire agency, the African News Agency, online e-commerce retailer Loot.co.za; various online classifieds businesses; and Independent Online (IOL).
American billionaire businessman, investor, and co-founder of the Quantum Fund and creator of the Rogers International Commodities Index (RICI), Jim Rogers has also announced his investment in Sagarmatha Technologies.
Jim Rogers. Image: Twitter.
Rogers stated that “Sagarmatha’s e-commerce offerings are Africa’s own Amazon, Tencent and Alibaba. In syndicated news content it is Africa’s answer to Reuters and to Bloomberg for business content. In digital news it is an African alternative to Quartz, Daily Beast, and NYT Digital.
“Sagarmatha is unique in that it is all of the above combined into one group and much more, including technology ventures while being authentically African. It is well positioned to succeed in Africa and beyond."
Other global investors who have committed investments in Sagarmatha include ambassador Harold Doley Jr, the first, and only, African-American to hold a seat on the New York Stock Exchange, and Russian investor Elena Tarasenko, the founder and managing director of Turner Group, an international reinsurance broker, risk management, claims handling and actuarial advisory firm.
Ambassador Harold Doley Jr, Chairman of Sagarmatha Technologies Ltd International Advisory Board (IAB), and Paul Lamontagne, Chairman of Sagarmatha Technologies, photographed in October 2017 on the announcement of the IAB. Photo: Ian Landsberg/African News Agency (ANA)
-BUSINESS REPORT ONLINE