London Stock Exchange welcomes Vivo Energy
London Stock Exchange today welcomes Vivo Energy, a leading retailer and marketer of Shell-branded fuels and lubricants in Africa, to the Premium Segment of the Main Market. Shareholders raised £548 million from the sale of existing shares to international investors, valuing the company at £1.98 billion.
To celebrate the listing and start of conditional trading today, Tom Attenborough, Head of International Business Development, London Stock Exchange welcomed Vivo Energy to London Stock Exchange. Admission will take place on 10 May 2018.
Vivo Energy is also the first company identified in London Stock Exchange Group’s ‘Companies to Inspire Africa’ report to float on London Stock Exchange. The ‘Companies to Inspire Africa’ report was published in 2017 and identifies the fastest-growing and most dynamic private businesses across Africa.
John Daly, Chairman of Vivo Energy:
“The listing today represents a major milestone for Vivo Energy. We are delighted to welcome our new shareholders to the register. We have been thrilled with the level of support and interest we have had through this process from the global investor community and would like to thank all my colleagues for their hard work in reaching this significant moment in the Company’s history. We look forward with confidence to the next stage of our development as a listed business.”
Christian Chammas, Chief Executive Officer of Vivo Energy:
“We have been extremely pleased with the investor response to our offer, in what has been a challenging period for the wider markets. Vivo Energy’s differentiated business model, strong track record, exposure to Africa and the growth opportunity it represents has been well understood by investors. We are excited about the momentum in the business and are looking forward to delivering further growth and success as a London listed company.”
Tom Attenborough, Head of International Business Development, London Stock Exchange:
“The success of Vivo Energy’s IPO is a strong statement of international investor interest in building exposure to Africa. As a London-listed company, Vivo Energy, will gain access to the world’s most international market, as well as an unrivalled source of deep liquidity and new investors.
“With 108 African businesses listed or trading on London Stock Exchange, with a total market capitalisation of over $200 billion, London is a strong partner to African companies seeking to attract international investment.”
London Stock Exchange Group has a long history supporting the development of African capital markets and investment in African companies.