The company is interested in a share sale within the next 12 months to two years and will also consider a sale to another company, Chief Executive Officer Edward Kieswetter said in a telephone interview from Johannesburg.
Alexander Forbes, which started in 1935, was acquired for 8.2 billion rand ($821 million) in 2007 by a group led by private equity firm Actis Capital LLP. The company in 2009 restructured a 159 million-euro ($209 million) high-yield loan.
“I’m agnostic to the form of exit but we’ll prepare ourselves for an IPO,” Kieswetter said. “If an international player comes with a big check to buy out the consortium, we would also have to be open to that.”
The private equity group owns about 50.1 percent of the company, while about 26.5 percent is traded as preference shares. Management holds 8.7 percent.
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