Media24 Holdings, a subsidiary of Naspers, has applied for a JSE listing of Novus, a subsidiary of Media24.<\/p>\n
Novus, formerly Paarl Media Group, is established in the printing and manufacturing sectors.<\/p>\n
It operates eleven specialised printing plants and one tissue plant across South Africa and provides a comprehensive range of products and services nationally, as well as in other parts of Africa.<\/p>\n
“With an ever growing percentage of Novus\u2019s work now coming from third parties, and Novus\u2019s continued diversification of its revenue streams, it is appropriate to list Novus on the JSE,” Naspers said.<\/p>\n
The listing will be effected via a private placement of Novus shares held by Media24. Media24 will remain the majority shareholder of Novus.<\/p>\n
In the financial year ended 31 March 2014 Novus achieved revenues of R3.969 billion and an operating profit R649 million.<\/p>\n
It is expected that the listing will take place during March 2015.<\/p>\n
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