4Sight will list at a steep premium to the net asset value of its sole asset if investors take up all the shares it is offering and it raises the full R300m it is aiming for ahead of the listing on the JSE’s AltX board in October. The technology company, which released its prospectus on Thursday, is offering its shares at between R1.80 and R2.20 each, depending on the rand-dollar exchange rate by midday on October 12. It expects having a market capitalisation of about $75m. 4Sight owns 100% of Digitata Mauritius, a machine learning and artificial intelligence firm. 4Sight was newly incorporated for the listing and does not have historical financial data, but Digitata held assets of $18.7m, with $11.3m in debt, at the end of the 2016 financial year. 4Sight intends to use R52m of the proceeds of the listing to settle an amount Digitata owes for acquiring its South African subsidiary, with the rest earmarked for "go-to-market" projects. It is targeting the econometrics, medical science...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.