Published: October 26, 2009
Bidvest Namibia, a conglomerate with businesses in computer equipment, food distribution, logistics and other industries, has completed its N$365mn (US$48mn) IPO on the Namibian Stock Exchange.
The listing means that the company’s cash reserves stand at some N$400mn. In a statement issued ahead of the IPO, CEO Sebby Kankondi said the company could now consider several acquisitions, adding that it is particularly interested in sectors with “long-term growth potential” such as tourism and linked industries.
Bidvest Namibia is the Namibian holding company of JSE-listed African conglomerate Bidvest.