Holdsport raises less than expected
Fin24 - Jul 14th 2011, 10:11
Johannesburg - Holdsport, the sports, leisure and recreational goods retailer which plans to list on the main board of the JSE on Monday July 18, has placed 30 million shares in the company at R31 each, raising R930m.
Last month the company said its listing may raise up to R1.17bn, with its offering priced at between R31 and R39 per share.
Its planned listing was to facilitate the exit of majority shareholder, Ethos Private Equity.
Ethos, which bought its stake in the group in 2006 for R681m owns about 67%, while the company's management consortium owns the rest.
Holdsport operates 33 Sportmans Warehouse and 18 Outdoor Warehouse stores in SA and has turnover of about R1.1bn.
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