JP Morgan Likes African Paths to IPOs - Expanding Operations in The Region
JP Morgan sees the alert signal - African companies are coming: "There are fast growing businesses in Africa, that’s why we’re able to get these IPOs underway. International investors are interested and more open to the African growth story than ever before,” said Barry Meyers, managing director of JPMorgan’s U.K. capital markets and sub-Saharan Africa business. And the global bank wants to hire and deepen its African operations to help these companies get to exchanges in U.S. and UK, Bloomberg reports.
JPMorgan Chase & Co. is hiring in sub-Saharan Africa as the New York-based bank works with companies to list their shares in London despite Brexit uncertainty.
“There are fast growing businesses in Africa, that’s why we’re able to get these IPOs underway,” said Barry Meyers, managing director of JPMorgan’s U.K. capital markets and sub-Saharan Africa business, declining to be specific on deals. “International investors are interested and more open to the African growth story than ever before.”
More offerings are expected over the next 12 months as African businesses seek to tap deeper pools of capital, he said. The increased interest comes amid a $3.5 billion share sale by Airtel Africa Ltd., London’s third-largest IPO this year, and follows a roadshow by officials from the London Stock Exchange earlier this year to spur more issuance