LEAD MANAGERS Dresdner Kleinwort Benson and Robert Fleming have priced the global stock offering of SanLam, one of South Africa's premier insurance groups. The transaction involved a demutualisation in the local market, a recycling of stock from policyholders and the sale of new shares to international institutional investors. Despite the fragile condition of the Johannesburg stockmarket, the deal was three times oversubscribed with high quality orders coming in particularly from UK buyers.
December 04, 1998