Famous Brands is selling its 51 per cent controlling stake in Tashas, to the founding family. This is in line with the group’s three year strategy to focus less on its signature brands portfolio. The founding family of Tasha’s currently holds the remaining 49 per cent. Tashas Founder, Natasha Sideris joins CNBC Africa for more.
Helios is planning a free float of at least 25% of the company, with a listing on the London Stock Exchange, and will use the proceeds for expanding its services, including possibly into new countries, it has said.
Nigeria’s National Insurance Commission (NAICOM), has approved the recapitalisation work plans of 26 insurance companies attempting to raise funds to meet the mandatory June 2020 recapitalisation deadline issued by the regulator. NAICOM stated that four companies do not have the required 2018 financial statements and have been advised to review their plans of using IPO. For a focus on Nigeria’s Insurance sector, Research Analyst at Meristem, Akinyele Ahmed joins CNBC Africa for more.
Jumia, an African e-commerce company, dubbed the African Amazon, listed on the New York Stock Exchange. In early trade its share price was up 61 per cent to $23.41. CNBC spoke to its CEO Sacha Poignonnec about the listing and its plans.
Jumia, an African e-commerce company that is backed by MTN is set to launch its IPO on the New York Stock Exchange later today, this could value the firm at $1.6 billion or more. Joining CNBC Africa for more on the Jumia listing is MTN Group CEO, Rob Shuter.
* Nigeria set to see IPOs again * IPOs virtually dried up after a 2008 crash * Exception was oil company Seplat which listed in 2014 * Aviation firm, resinsurer, oil company and MTN set...
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