Private Security Firm Plans South Africa’s First IPO Since 2018
- Fidelity could be valued at about $662 million with listing
- Share sale would follow 2016 acquisition of Tyco’s ADT
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Fidelity Services Group, the largest private security firm in South Africa, is considering an initial public offering, according to people familiar with the matter, which would be the country’s first in four years.
The Johannesburg-based firm is mulling a share sale later this year, depending on market volatility and uncertainty caused by Russia’s invasion of Ukraine, said the people, who asked to remain anonymous as the plans are still private. While the company could be valued at about 10 billion rand ($662 million), plans are at an early stage, they said.