Regency Petroleum Company Limited (RPL) had a successful IPO which saw the firm looking to raise $287.16 million where $170.70 comes from the public market and RPL key partners. It was a success as it was oversubscribed and ended a day after it was opened to the public.
It marked the 6th company to be listed on the JSE this year along with the likes of Dolla Financial Services Limited which had a very successful IPO raising $4.762 billion in just a week.
GK Capital Management Limited was the lead broker and orchestrator for RPL’s IPO which wasn’t a surprise given their activity within the IPO space over the last couple of years. VM Wealth Management Limited (VMWM) and JMMB Securities Limited were mainly selling agents within this process.
RPL’s CEO Andrew Williams stated he is very optimistic about the future of the company and will continually invest in key strategic initiatives.
“We anticipate significant growth in revenues to come from our next four quarters. We also plan to continue to seek properties in strategic locations to expand our automotive retail outlets and service stations and expand our LPG cylinder base by planting our stake in corporate areas and across the island in the near future,” he said.
With one month to go before the end of the year, it’s hard to tell if this is the last IPO. Most of the IPOs this year showed the resiliency of the JSE market and the different companies that are making an impact.
There have been rumors that A.S Bryden & Sons Limited might list this year, information regarding that has been minimal and ambiguous, let’s just see what happens over the next couple of weeks.
