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Vivo Energy operators of Shell Gas Stations in Africa just floated what the Financial Times considers the biggest IPO in Africa at $2.7 billion.

According to Reuters, the company launched with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade.

Here is a quick rundown

  • The initial offer price for the company floated was set at 165 pence per share and the shares advanced to 169.50 pence in conditional trading.
  • The company listed 30% of its equity.
  • The company is the downstream fuels joint venture of energy trading house Vitol and Helios Investment Partners which are cutting their stakes. Both Companies have business ventures with Oando.
  • The company is owned 44 percent each by Vitol and Helios Investment Partners and 1 per cent by management.
  • Vivo Energy is the African Operator for Shell Fuel Stations across Africa with over 2,000 filling stations in 15 African countries.
  • This is the first significant Africa Focussed Float since Seplat floated for $500 million in 2014.
  • In 2017, the company reported earnings before interest, tax, depreciation and amortisation of $326m.

Take a deep dive on this story.


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