AfrAsia Corporate Finance becomes a JSE approved sponsor
January 9, 2013- AfrAsia Corporate Finance (“ACF”), the joint venture company of AfrAsia Bank, with offices in Cape Town, Johannesburg, Harare and Mauritius has recently been approved by the JSE to provide sponsor services to its clients. AfrAsia Corporate Finance, a boutique investment banking business and authorised financial services provider, offers financial advisory and capital raising solutions to clients in connection with Mergers & Acquisitions, Restructurings and other strategic matters. ACF also advises the AfrAsia Special Opportunities Fund (“ASOF”), a credit fund that integrates capital with the advisory capabilities of ACF.
ACF advises a wide range of organisations across the SADC region, from corporates and project sponsors to investment funds and financial institutions. Via ASOF, ACF is also able to support its client relationships with innovative financing solutions ranging from bridging facilities for acquisitions to underwritten equity issues to short term working capital facilities.
The addition of the JSE Approved Sponsor license will enable ACF to enhance its offering for clients through ensuring compliance with the JSE Listings Requirements, providing appropriate advice in terms of transacting in the listed environment and processing of corporate actions through the JSE.
ACF is currently acting as the transaction sponsor for its client Convergenet Holdings Ltd in respect of Convergenet’s acquisition of minority interests in its major subsidiaries. In 2012 ACF has also been involved in several innovative transactions involving JSE listed companies, including the reverse listing of Mine Restoration investments Ltd, the de-listing of SA French Ltd and the Mirror Listing of Torre Industrial Holdings Ltd. As a JSE approved sponsor ACF will be able to further expand its offering to mid-market South African companies who are listed on the JSE or who may be seeking a listing in the future.
The increasing size and importance of Mauritius as a regional financial centre also means that there will inevitably be further integration of this economy with South Africa. This will lead larger Mauritian corporates and financial institutions to seek access to the South African capital markets as they expand their African businesses. With this new license, ACF is ideally positioned to capitalise on this trend given its established relationships with regulators, investors, financial institutions and corporates in both Mauritius and South Africa.
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