Deals
JPMorgan Sees a Busy Season for London IPOs Out of Africa
- Investors seeking growth that Europe, U.K. just can’t deliver
- At least six companies weighing dual listings, bank says
This article is for subscribers only.
JPMorgan Chase & Co. is having one of its busiest years yet for African companies looking to trade their shares in both London and local equity markets such as the Johannesburg Stock Exchange.
The New York-based investment bank has seen interest from at least six companies considering dual listings, said Barry Meyers, the head of JPMorgan’s U.K. capital markets and sub-Saharan Africa business. The inquiries come amid a $2.7 billion share sale by Vivo Energy Plc last month in London’s largest initial public offering this year, with the stock of the pan-African seller of fuels and lubricants also trading in Johannesburg.