Long4Life came to the JSE in April 2017 and at the time of its listing created much excitement in the SA investment community.Long4Life is essentially a venture-capital-style investment holding company lead by former Bidvest founder and CEO Brian Joffe. Its listing and capital raising hinged on his record of generating superior returns for shareholders.Joffe clubbed in R100m of his own capital to buy shares at 400c a share, while other institutional investors had to pay 500c a share to raise the targeted R2bn. It managed to raise R1.9bn and on the first day that the stock traded, it settled at 673c. Off to a flying start! Since then the share has traded well below the first-day price.After a slow start, due to regulatory processes within the Competition Commission, acquisitions gained momentum. In July 2017 Long4Life bought The Sorbet Group, a group of companies that includes health, beauty and grooming outlets situated across SA and with an emerging footprint in the UK.In August 20...

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