Consol Seeks to Raise $227 Million With Johannesburg Listing
- Glass company was taken private by Brait and others in 2007
- Consol says listing offer won’t be available to the public
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Consol Holdings Ltd., the glass-packaging maker that last traded on Johannesburg’s bourse more than a decade ago, said it’s plotting a return and is seeking to raise 2.7 billion rand ($227 million).
Consol delisted in 2007 after a group of private-equity investors led by Brait SE took it private. Consol’s return, mooted for at least three years, previously faced uncertainty amid South African political turmoil and slowing economy. Under new President Cyril Ramaphosa, who has promised to tackle corruption and clarify policy, the rand has strengthened and business confidence is rising.