Any body have an opinion on this one?
ARC Investments said in August that it would offer R4bn shares in an initial public offer that would give the company a market value of around R8,5bn. An interest of approximately 25% will be sold to three key investors - GIC in Singapore, the Public Investment Corporation (EMC) and Sanlam Private Wealth.
ARC says in a statement the additional shares it is currently issuing will increase the "gross yield of R1,9bn to R2,2bn".
In addition to the importance in Elandsfontein, its nine other largest investments are based on the percentage of the intrinsic value it represents:
- Rain: A 20% stake in this broadband provider providing fast internet connections. It represents 31% of its portfolio.
- Afrimat: An interest of 18,4% in the listed construction company. It represents 12% of its portfolio.
- EOH: An interest of 1,7% in the listed information technology group. It represents 6% of its portfolio.
- Alexander Forbes: An interest of 4.9%.
- BKB: An interest of 20% in the agricultural company.
- Acorn Agri: An interest of 15% in the agricultural company.
- Afrigem Payprop: An interest of 46,4% in the information technology group.
- Val de Vie Investments: An interest of 20% in the property developer.
- Human states: An interest of 10% in the information technology company.