(Updates with amount of sale starting in first paragraph.)
June 27 (Bloomberg) -- Holdsport Ltd., a South African company that runs the Sportsmans Warehouse and Outdoor Warehouse retail chains, plans to raise as much as 1.2 billion rand ($173 million) selling shares to selected investors.
The company will offer up to 30 million shares during a book-build process at between 31 rand and 39 rand apiece before its listing on the Johannesburg Stock Exchange on July 18, Holdsport said in a statement today. The final offer price will be determined after the book-build process, it said.
A total of 42.9 million shares will be listed on the apparel retail division of the stock market’s main board, it said.
Holdsport operates 51 stores in South Africa and one in Namibia. The listing aims to facilitate the exit of the company’s 67 percent shareholder, private equity firm Ethos Private Equity Ltd., Holdsport Chief Executive Officer Kevin Hodgson said in an interview on June 13.
--Editors: Vernon Wessels, Shanthy Nambiar.
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