Good Afternoon, 

Get a snapshot into: ABSIP President Polo Leteka's most recent investment activity, Porsche speeding past FRA IPO competition, and a fairly calm week for M&A deals

VC/PE

SweepSouth successfully raises R197M ($11M) in a funding round led by Africa's first gender-lens private equity fund

• Alitheia IDF assisted the bustling online cleaning services company in raising funds with the backing of the following investors: Naspers Foundry, Futuregrowth Asset Management, Caruso Ventures and more.

• Alitheia IDF is a $100M female led PE fund managed by Alitheia Capital and IDF Capital (Founded and Chaired by ABSIP National President Polo Leteka)

• The capital raised will be allocated towards driving continued growth in SweepSouth's South Africa, Kenya, Egypt and Nigeria lines of business in addition to reaching new markets.

iiDENTIFii raises R270M ($15M) growth capital in an investment round led by Arise

• iiDENTIFii is a face authentication tech company that provides cyber security services and biometric authentication to banks, insurers and mining houses.

• Cornerstone Investors include: Arise, Bill Spruill (US tech entrepreneur), Norfund and more.

• The capital raised will be used to further expand operations and product capabilities.

IPOs

Porsche's record breaking IPO debut in Frankfurt's Stock Exchange priced the sports car manufacturer company's preferred shares at R1460,25 (€82,50) 

• Porsche's Market Cap of R1,4T (€7,8B) makes this transaction the second biggest IPO in German history.

• Volkswagen AG offered 25% of their preferred shares held in Dr. Ing. h.c. F. Porsche AG, and intends to announce a special dividend in December. The proposed dividend will pay out 49% of the total transaction amount to shareholders.

• Qatar Investment Authority, Abu Dhabi's sovereign wealth fund, T. Rowe Price and Norway's sovereign wealth fund acquired 40% of the offerings.

• Integrated deal team: Mediobanca, Bank of America, Citigroup, Goldman Sachs, JPMorgan and more.

Quote of the Month

Deal Flow

IMPLATS is set to acquire a 40,46% stake in RBPlat in a cross national transaction

• Impala Platinum Holdings Ltd previously owned 0,35% of the Royal Bafokeng Platinum Ltd shares and announced a purchase of 40,11% more shares (1,002,348 shares).

• Deal Sponsors: Macquarie, J P Morgan, Nedbank, Standard Bank

Mr Price acquires 70% of Studio 88 Group from RMB Ventures Six Limited for R3,6B

• Studio 88 Group has fulfilled conditions set for the deal that was announced in April to occur.

• Mr Price will be 70% of Blue Falcon Trading, an investment holding company that owns Studio 88 Group.

• Mr Price expects an earnings boost to R6,4B in 2022 after this transaction.

• Deal advisor, sponsor and broker: Investec Ltd

Heriot Properties announced their intention to acquire Safari Investments for R5,60 per share by 14 October 2022

• Heriot Properties is a subsidiary of JSE (AltX) listed Heriot REIT Ltd. Heriot is a property portfolio management firm that invests in retail, industrial, residential, commercial and special property. AUM amounts to R4,6B.

• Safari is a property investments holding company with investments in malls and shopping centres in Sub Saharan Africa.

• The proposed deal awaits successful negotiations with Heriot, the Takeover Regulation Panel and Safari.

• Deal sponsor: Java Capital

Breaking the barrier

FRA Frankfurt Stock Exchange

TRP (Takeover Regulation Panel) regulates transactions according to section 196 of the Companies Act No 71 of 2008 (the Act) and reports to the Minister of Trade and Industry 

IPO (Initial Public Offering) occurs when a private company wishes to shift into a public company by offering shares to the public for the first time. 

Thank for reading!

All the best, 

Hlumelo Lujiva💙

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