PLG Schools, which forms part of the Pembury Lifestyle Group, listed in the Specialised Consumer Services sector on the JSE’s AltX board on Friday.
This represents the third listing on the JSE in 2017, and a first on the AltX Board, which focusses on growing small businesses.
Currently the AltX board has 56 companies listed, with a total market capitalisation of R30.7 billion.
Pembury Lifestyle Group established PLG Schools in 2014, having initially focused on developing retirement accommodation when the Group was founded in 1999. In just two years‚ PLG Schools now has 19 schools in Gauteng and the North West Province.
Donna Nemer, Director of Capital Markets at the JSE, said: “This listing will also help the PLG Group raise the necessary funds to help its growth aspirations, which include adding several new school campuses to its portfolio, as well as a property division in the future.”
Pembury Lifestyle Group’s Founder and CEO, Andrew McLachlan, said: “Through this listing and the planned expansion of PLG Schools, we aim to bridge the financial gap between government school fees and the ‘elite’ independent school fees to bring the benefits of private education to many more families.”
PLG Schools is focused on building mid-sized campuses with 600 to 1,200 learners per school and no more than 25 learners per class.