• Vivo Energy, an African petrol station operator, plans to list on the JSE and the London Stock Exchange.
  • It is the fourth company in two weeks to announce it is listing on the JSE in two weeks.

Vivo Energy, which operates petrol stations across the African continent, announced on Wednesday that it is planning to list on the JSE.

It is the fourth company in two weeks to announce a JSE listing.  

Other companies who are planning to list on the JSE include the food firm Libstar, the glass group Consol, and Sagarmatha Technologies.

So far, however, the JSE saw only one listing this year.

Last year 21 companies were listed.  

Vivo Energy is jointly owned by the world’s largest oil trader Vitol and Africa-focused private-equity firm Helios Investment Partners. Vitol and Helios bought some of Shell’s African operations in 2011 to form Vivo.

The company, which has its headquarters in the Netherlands, distributes Shell products in Africa (outside of SA) and manages almost 1,800 Shell petrol stations across the continent. Last year, Engen also sold 300 of its African petrol stations (in Zimbabwe, Zambia and Rwanda among others) to Vivo.  Vivo is active in 24 countries on the continent.

Previously, the listing was valued at $3 billion (R36 billion). The company expects to list London next month, with a secondary listing on the JSE.

"If you want to attract investors, you want to do it where governance is really strong and London is known for that. And we also wanted to stay in Africa because we are a pan-African retail company," CEO Christian Chammas told Reuters.

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