GLOBAL co-ordinator Robert Fleming is to launch the sale of stock in South African Breweries (SAB), the world's fourth largest brewer, next month. The UK firm was mandated to lead the prestigious offering last year in the face of fierce competition from US firms. The deal will raise around £200m through the sale of secondary shares listed in London and is likely to give SAB a market capitalisation of $3.6bn-$4bn. The transaction will assist SAB's expansion plans as, although the brewer will not raise funds through the deal, the London listing and increased investor awareness will improve its access to the international equity capital markets.
February 12, 1999