Investors keen on Patrice Motsepe offering
Fund-raising ambitions at African Rainbow Capital pique portfolio managers’ interest
South African investors have put African Rainbow Capital (ARC) on their radar after it said it would either offer shares to the public or create a fund to raise capital to fund ambitious expansion plans. ARC is an investment holding company majority owned by mining magnate Patrice Motsepe and other shareholders through Ubuntu-Botho Investments. The company has plans to conclude about 30 transactions by June, joint-CEO Johan van Zyl said at the World Economic Forum in Davos on Friday. Van Zyl was not available for comment on Monday. "We would certainly be interested to meet management and to listen and evaluate the merits of any proposal as or when they were looking to raise capital," said Anthony Sedgwick, a portfolio manager at Abax Investments. Adrian Cloete, a portfolio manager at PSG Wealth, said he needed detailed information such as a prelisting circular to conduct a comprehensive valuation on ARC.