{"id":179613,"date":"2017-06-15T14:32:55","date_gmt":"2017-06-15T12:32:55","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=179613"},"modified":"2017-06-15T15:03:06","modified_gmt":"2017-06-15T13:03:06","slug":"motsepes-african-rainbow-capital-set-so-to-list-on-jse-with-r3-billion-ipo-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/179613\/motsepes-african-rainbow-capital-set-so-to-list-on-jse-with-r3-billion-ipo-report\/","title":{"rendered":"Motsepe&#8217;s African Rainbow Capital set so to list on JSE with R3 billion IPO: report"},"content":{"rendered":"<p>African Rainbow Capital Ltd., a South African financial-services firm started by billionaire Patrice Motsepe, plans to raise more than 3 billion rand ($234 million) in an initial public offering of its investment-holding unit, according to a report by <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-06-15\/billionaire-motsepe-said-to-eye-more-than-3-billion-rand-in-ipo\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a><\/strong>.<\/p>\n<p>According to the report,\u00a0ARC will fold its non-financial services assets into the company and list the unit\u2019s stock on the Johannesburg Stock Exchange before the end of September, with insiders indicating that the company may even raise as much as R5 billion.<\/p>\n<p>Motsepe founded African Rainbow Minerals (ARM) in 1994\u201a which he currently chairs. He originally earned his fortune by buying and improving output from marginal gold mines operated by AngloGold Ashanti Ltd.<\/p>\n<p>He later\u00a0expanded ARM into platinum, copper, coal and iron ore and started Ubuntu-Botho Investments, ARC\u2019s parent, in 2004.<\/p>\n<p>The investment-holding company ARC currently has an array of non-financial services businesses, such as its stake in EOH Holdings Ltd., which has interests in technology services, and Afrimat Ltd., a supplier of building materials.<\/p>\n<hr \/>\n<p>Read:<strong>\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/wealth\/162879\/these-are-the-richest-billionaires-in-south-africa-in-2017\/\" target=\"_blank\" rel=\"noopener\">These are the richest billionaires in South Africa in 2017<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>African Rainbow Capital Ltd., a South African financial-services firm started by\u00a0Patrice Motsepe, the richest black South African, plans to raise more than 3 billion rand ($234 million) in an initial public offering of its investment-holding unit.<\/p>\n","protected":false},"author":10,"featured_media":17281,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[25],"class_list":["post-179613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/179613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=179613"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/179613\/revisions"}],"predecessor-version":[{"id":179649,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/179613\/revisions\/179649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/17281"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=179613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=179613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=179613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}