Optasia Sets Sights on Global Expansion with $365M Johannesburg IPO
Dubai-based fintech firm Optasia is gearing up for a significant leap in its global expansion strategy by raising 6.3 billion rand ($365 million) through an Initial Public Offering (IPO) on the Johannesburg Stock Exchange (JSE). This move signifies growing international investor interest in African-linked tech companies and South Africa’s attractiveness as a financial hub for accessing growth capital.
Fueling Growth Through JSE Listing
The IPO will involve Optasia issuing 1.3 billion rand in new shares. Simultaneously, the company’s founders will offer 5 billion rand worth of shares through a private placement. Optasia has enlisted the expertise of Morgan Stanley and Standard Bank Group as joint advisors for the IPO, with Investec acting as the bookrunner, according to official regulatory filings. The capital raised is earmarked for ambitious expansion plans. According to CEO Salvador Anglada, Optasia intends to use the funds to fuel growth, pursue geographical diversification beyond Africa into Asia and potentially Latin America. Anglada also noted the importance of South Africa as a key market, contributing between 10% and 15% of Optasia’s business.
Optasia’s decision to list on the JSE underscores the exchange’s significance for companies seeking to tap into South African and international investor pools. The successful IPO will enable Optasia to capitalize on the increasing demand for digital finance solutions globally, further solidifying its position in the competitive fintech landscape.
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