RH Bophelo has been listed as a special purpose acquisition company “SPAC” on the Main Board of the JSE and joined five other companies in the Non-Equity Investments Instruments sector of the exchange which currently has a total market capitalisation of ZAR2.17 billion.
RH Bophelo is a black-owned investment company with an interest in healthcare assets, and will acquire hospitals in South Africa that provide affordable healthcare. RH Bophelo aims to increase access to quality healthcare among people in the lower to middle-income brackets who cannot afford private healthcare as it is currently structured in South Africa. To achieve this, the company will invest in hospitals already in operation, brownfield projects where licenses to operate are already in place as well as in other health care funds and related sub sectors.
“All South Africans, regardless of their income status, have a right to quality healthcare services. We are proud that as the JSE we can play a part in ensuring this right through offering a well-regulated and liquid market where RH Bophelo can raise the necessary capital to realise its goals,” says Prejelin Naggan, Head of Primary Markets at the JSE.
Naggan adds that listing as a SPAC enables the general public to share in the ownership of black-owned companies such as RH Bophelo and take part in their growth story.
“RH Bophelo will further provide investors with access to a highly sought after asset class associated with high growth, cash generative returns and direct real asset exposure to the defensive healthcare sector,” says, Quinton Zunga, CEO of RH Bophelo.
This is the ninth listing on the JSE this year and the eighth SPAC to list since the introduction of SPACs in 2013.
ABOUT RH BOPHELO
RH Bophelo was initially incorporated as a private company in 2017. It was later converted into a public company and its name was changed to RH Bophelo – as it now stands.
RH Bophelo (RHB) is a healthcare investment vehicle that aims to produce superior returns, whilst contributing to socio-economic value creation and development of South Africa and making an important contribution to ongoing transformation in South Africa.
The intended purpose of the company, following the JSE listing, will be to pursue acquisitions of healthcare assets in exceptionally managed commercial entities or special situations across the South African market. However, a tenth of the fund will be allocated for social assets.