NEW YORK, Nov. 05, 2020 (GLOBE NEWSWIRE) — Verityhurst (Pty) Ltd, a South African based Private Equity firm that has invested in three companies over the past five months, Labat Africa Ltd a diversified holding company that is listed on the Johannesburg Stock Exchange, Visual International Holdings Limited a property development company that is listed on the Johannesburg Stock Exchange, and Pembury Lifestyle Group Limited an education group that is also listed on the Johannesburg Stock Exchange. See the links below.
co.za/article/labat-africa- reports-investor-interest-as- south-africa-publishes- medical-cannabis-notice-2020- 06-29/rep_id:4136
companies/troubled-private- schools-group-plg-gets-funder- as-ceo-finally-steps-aside- 20200730
mny_sens/visual-international- holdings-limited-general- issue-of-shares-for-cash-to- verityhurst-proprietary- limited-verityhurst-or-the- subscriber/
Now the Private Equity Firm in collaboration with its advisory arm Verityhurst Capital is looking for companies that are listed on other African stock exchanges where the markets are not liquid enough. Markets like the Botswana Stock Exchange, Nigerian Stock Exchange, Ghana Stock Exchange, Namibian Stock Exchange, Egyptian Stock Exchange and Casablanca Stock Exchange to a name a few. The idea is to assist these companies with Secondary Offerings on the Johannesburg Stock Exchange with Verityhurst backing the capital raising as a primary investor or underwriter.
Verityhurst is also looking for Companies that are privately held and would be willing to raise capital through an Initial Public Offering (IPO) on the Johannesburg Stock Exchange and Verityhurst is prepared to fund these companies by underwriting a portion of the IPO. Verityhurst is also prepared to finance the listing costs on the Johannesburg Stock Exchange for all the suitable privately held companies in Africa who are willing to go public. These companies must have a minimum of $10 million in annual turnover, a strong management, great products or services offering and must demonstrate the ability to grow through this pandemic.
Commenting on this great news, Dr. Mandla Lamba, Founder & Chief Investment Officer of Verityhurst, “times are hard and the impact of the pandemic on businesses has been very severe and it has caused many companies who are already over-levered to add more borrowings on balance sheet, which borrowings will suffocate the companies solvency and threaten sustainability. I believe that the equity markets are the only solution for African companies who want to keep ahead of the pandemic and the impact thereof. We are looking for those companies who say, we can’t afford to take more debt, but we are prepared to sell part of the business through a public offering on the Johannesburg Stock Exchange. This will assist such companies with reducing debt and bolstering their war chest. Verityhurst is doing all it can to assist these companies in saving jobs and creating sustainable businesses.”
Verityhurst was founded in 2007 and is one of the longest running and still operating Private Equity firms in Africa. Verityhurst is a specialist and yet very contrarian money manager that only focuses on balance sheet investing. We are dedicated in ensuring that we are successful in making big returns on investment. The firm invests in publicly traded companies that present outstanding investment opportunities, magnified in an environment of volatile commodity prices and historically high operating costs. As private investors utilizing our own capital, we do not have the same liquidity pressures that a fund-based investor has, thereby allowing us to view each of our investments as a long term-term commitment towards building an enduring profitable business. www.verityhurstonline.com
For more information
Dr. Mandla Lamba
Chief Investment Officer
Tel: +27(0)11 367 0636
Email: [email protected]