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Holdsport may raise R1bn with listing

Jun 27 2011 08:50
Johannesburg - Sporting goods retailer Holdsport said on Monday it could raise up to R1.17bn in an initial public offering (IPO) next month.

Holdsport, which runs 32 Sportsmans Warehouse stores in South Africa, said in a statement it had priced the offering at between R31 and R39 per share.

The company said its existing shareholders would be selling 26.1 million shares to institutional and other investors in South Africa and elsewhere.

An additional 3.9 million shares could be sold through an over-allotment, bringing the total number of shares to 30 million.

That would value the IPO at R1.17bn if the shares sell at the top end of the offer price, according to Reuters calculations. The total number of listed shares will be almost 42.9 million, the company said.

The IPO price will be decided by July 14 and shares are due to start trading on the JSE by July 18, the company said. The shares will trade under the symbol "HSP", the company said.

UBS is the bookrunner for the offering. 
holdsport  |  jse


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