When Vivo Energy listed on the London Stock Exchange in May, it marked the largest Africa-focused IPO to list in the UK capital in 13 years. The company, which sells Shell-branded fuels and lubricants in 2,000 filling stations in 15 African countries, raised £548 million from the sale of 30% of the business to international investors.
After the float, the company was valued at £1.98 billion – not bad for a portfolio company, which was bought by Africa-focused private equity fund Helios Partners in 2011 for $1 billion.
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