Africa Equity

New Europe Property Investments (NEPI), an eastern European focused property company, hopes to raise around R1.14bn ($106.7m) from the issuance of new shares onto the Johannesburg Stock Exchange in an accelerated book build on Monday.

Alexander Forbes, the South African retirement fund firm that in July completed the last big IPO before the summer break began, said on Friday that the greenshoe on its deal had been used in full.

Bahrain’s Awal Bank sold an 8% stake in London-listed Petra Diamonds on Monday night in a £81.7m block trade led by RBC Capital Markets.

Nigerian oil and gas firm Sirius Petroleum launched a capital raise on Wednesday that will help fund a new well if it can find further funding after the deal is completed.

British Brewer SABMiller has sold its entire holding in African hotels group Tsogo Sun to raise R7.6bn ($707m).

Europe's IPO market closed for the summer on Friday, as the last major two deals were priced. Investor fatigue and early holidays contributed to lower pricing than bankers had hoped.

Aveng launched a R2bn ($187m) convertible bond on Wednesday morning, with the deal emerging during a tougher times for the South African construction and engineering firm.

Mota-Engil Africa, a subsidiary of the Portuguese construction group, pulled its IPO on Friday, the latest deal to be hit by plunging sentiment in Europe’s equity markets because of fears about the periphery.

British brewer SAB Miller is to dispose of its entire $1.1bn stake in African hotel and gambling chain Tsogo Sun through a fully marketed sale that will be closed later this month.

Redefine Properties on Thursday raised R1.5bn ($94m) through a sale of new shares representing around 4.7% of the firm, the South African property company’s fourth deal in as many years.

South African furniture firm Steinhoff International completed a R7.8bn ($734m) accelerated bookbuild on Wednesday night, in the first step of a rights issue to repatriate funds ahead of a planned Frankfurt listing.

The Nairobi Securities Exchange started a self-listing planned since 2005 on Tuesday night, making it the second African exchange to demutualise and IPO after Johannesburg, and the latest in a run of stock exchange listings.