UAE school group to list on JSE
If successful, Athena’s IPO will be one of the biggest capital raisings on the JSE in the past decade
Local investor appetite for private education stocks will be tested shortly, as Athena — a private schools business based in the United Arab Emirates (UAE) — tries to raise up to R4.6bn with a JSE listing.
The group, which hasn’t set a listing date yet, is aiming for a $225m IPO by issuing ordinary shares at between $1 (R14) and $6 a share. Another $110m will be targeted via a preference share placement...