Media24 subsidiary, Novus Holdings has listed on the Johannesburg Stock Exchange Main Board on Tuesday (31 March) following a successful private placement.
Novus, formerly Paarl Media Group, is established in the printing and manufacturing sectors hand has been included in the Business Support Services Sector.
Novus Holdings Limited is the third company to list on the JSE in 2015 and the 18th company to be included in the Business Support Services Sector, which has a total market capitalisation of R27.3 billion.
The listing will enable Novus Holdings and its subsidiaries to attract and retain key and talented staff as well as to build a strong brand presence, while diversifying its operations in sub-Saharan Africa, said Novus CEO, Stephan van der Walt.
“We take this opportunity to thank our investors, employees, customers, suppliers and other stakeholders for the support Novus has received.”
“They have and continue to have confidence in our growth strategy, which is primarily focused on extending and diversifying our product range in sub-Saharan Africa and through value-adding partnerships and acquisitions,” said van der Walt.
Media24 will remain the majority shareholder of Novus. In the financial year ended March 2014 Novus achieved revenues of R3.969 billion and an operating profit R649 million.