GREYSTONE PARTNERS LTD RAISES E63M IN OPEN MARKET
MBABANE – Greystone Partners Limited managed to raise E63 million in the open market in its drive to raise capital via selling shares from May 9 to May 30.
The target was E75 million as part of its investment growth and diversification plan through the selling of 35.7 million shares at an issue price of 210 cents per share.
But Peace Mabuza, African Alliance Private Equity Executive, said this was no problem as the organisation could still go to the market to raise more capital.
“We remain bullish/confident that more capital will be raised very soon as investors have shown huge interest in our business. Highlights were that we saw a lot of individual Swazis buying the Greystone share. We believe that this augments well with the Swaziland Stock Exchange (SSX) aspiration to creating more trading on the Exchange.
“It also shows that Swazis are increasingly participating in investment initiatives, which will translate to more economic growth,” said Mabuza.
Greystone, being a leading private equity investor in Swaziland, and 100 per cent Swazi-owned with its shareholders being predominately various pension funds, aims to become a long-term partner of choice for Swazi business owners looking to expand or exit.
Mabuza also said the company’s aim and objective is to achieve superior long-term capital appreciation through majority or minority equity stakes across a portfolio of investments.