Last Updated September 01, 2009
South African private equity firm Paladin Capital plans to join the Johannesburg Stock Exchange next month.
The firm, a subsidiary of investment group PSG, will list its stock on the JSE’s Alternative Exchange on September 1, raising R150mn (US$19mn) through a rights offer.
In a stock exchange statement, PSG said the capital raised would help to finance Paladin’s recent acquisition of a stake in Curro, a provider of private schooling. It will also be used to fund future deals.
Paladin’s R692mn portfolio includes a 49% stake in investment company Thembeka Capital, as well as holdings in miner Petmin, logistics company CIC and construction group Erbacon.
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