JSE

From DION HENRICK in Cape Town
CAPE TOWN – THE African drum will beat on Friday as the Johannesburg Stock Exchange celebrates the listing of African Energy Partners (AEP) Limited as a special purpose acquisition company (SPAC). The listing of the black empowerment group, on the JSE’s AltX (alternative public equity exchange for small and medium-sized companies) will enable the firm to generate the R500 million (US$38,5 million) in capital it needs for several acquisitions in the energy sector. In addition, the listing will allow AEP Limited the capacity to focus on its liquefied natural gas niche market. With the shares costing R10 each, the company will also attract “the man on the street.” AEP’s vision is to significantly improve the quality of African lives by increasing access to and use of clean energy on the continent. The company is based in Cape Town.
– Guardian