Long4Life, a new investment company launched by Bidvest and Bidcorp founder Brian Joffe, listed on the JSE’s Main Board today in the Financial Services – Specialty Finance sector.
Donna Nemer, Director of Capital Markets at the JSE, says, “We are delighted that Long4Life has chosen the JSE as a venue to raise capital and grow their business. When a company that seeks to invest in other local businesses lists on the JSE, it gives South Africans the opportunity to invest and partner with them on the growth of those businesses.”
Long4Life will pursue investments predominantly with a lifestyle focus. These could include businesses in the beauty, outdoor, sport, retirement villages, and restaurants, among other sectors. The company raised R2 billion in its Initial Private Offering (IPO), through the listing of just over 405 million ordinary shares. The IPO was open to institutional investors and Joffe provided R100 million of the initial capital himself.
Brian Joffe, Long4Life CEO, says, “This listing is the start of the exciting Long4Life’s journey. It brings together a group of dedicated people with unique skills, which offers investors a distinctive proposition that leverages a collective and outstanding entrepreneurial track record established over an extended period to identify, acquire and grow businesses, and thereby generate exceptional value for all stakeholders. We are looking forward to sharing this journey with our new shareholders and partners.”
This is the fourth listing on the JSE this year, and the first in the Financial Services sector. The JSE currently has 12 companies listed in the Financial Services - Specialty Services subsector, with a total market cap of R107.8 billion.
