IPO Mania Skips Africa, Where Fast-Growing Firms Prefer Debt
Yet in Johannesburg, home of Africa’s largest bourse, 21 companies have instead de-listed in 2021. Smaller exchanges in Accra, Nairobi and Lagos have been similarly quiet.
Hello & good evening!
I like today’s memo.
It leaves us with more questions about that very silent question that has lingered so long in our mind - “when will Africa startups start IPO’ing in Africa exchanges?”
Nobody knows but it will surely happen someday. That sounded like the voice of a prophet.
When Stripe acquired Paystack for $200 million, Flutterwave made their intention known. They’re going to IPO…but not in Africa. They are looking to New York as an IPO destination…baby!
As a follow-up to IPO’ing, Access Bank’s had an oversubscribed $500 million bond. The deal drew huge interest from top-grade investors globally, including the United States, Europe, the Middle East, Asia, and Africa (Nairametrics).
Have a good evening.
Samson Omamuzo (LINKEDIN)
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Image: economictimes
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Samson Omamuzo (LinkedIn)
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