This is part of the process of Agilitee’s Initial Public Offering (IPO) on the JSE and it marks the beginning of a new chapter for Agilitee now that it has officially become a public company.
African leader on Electric Vehicle manufacturer – Agilitee-will start trading its IPO at Johannesburg Stock Exchange (JSE) after approval by the relevant authorities.
With the IPO trading kicking off it now means that the firm will now be converted from being a privately held company to a public company.
“I am excited by this approval by the Johannesburg Stock Exchange,” said Dr Lamba.
“This is the testament of the emergence of the New Africa, the ERA of just a hopeful Africa is gone as Africa is entering the world of the promise of God. This IPO is the final leg of every promise that Agilitee made when Agilitee was formed and it will usher the continent to the forefront of the global green revolution. I have worked with Acacicap for a while as they have advised my other company on a number of investments that were successfully concluded on the Johannesburg Stock Exchange so this is by no chance a surprise, Michelle Krastanova (Acaciacap Advisors CEO) and her team are amazing.”
The firm at the initial stage of being listed at the JSE had contracted the services of Acaciacap Advisors as it embarked on its IPO listing journey at JSE.
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Agilitee seeks to raise a total of $2 billion in equity capital by selling 10% of the business to new investors.
According to Dr Mandla Lamba the CEO of Agilitee, the firm allocated an additional 10 % shares equivalent to $2 billion for the less across the continent.
Prof Onkgopotse JJ Tabane, Agilitee, Global Board Chairperson also pointed out that the firm is eyeing more partnerships with various players to drive its growth strategy.
” The approval by the Johannesburg Stock Exchange (JSE) for the conversion of Agilitee from a private into a public company is a major and irreversible milestone towards our envisaged Initial Public Offering of 10 percent of the company for $ 2 billion US. We are standing on the brink of a major partnership with the public to make a hugedent towards a carbon free economy while creating wealth for many people across the African continent and the world. The company will soon release its prospectus and formally invite the public to purchase shares. ”
