IPO Altvest Capital Limited C Share: ACOF

Altvest Capital Limited C Share: ACOF

Altvest Capital Limited C Share: ACOF  

Relevant Documents

Prospectus

Abridged Prospectus

Introduction

Altvest is an investment holding company operating in the financial services sector that facilitates access to bespoke investments and simultaneously provides funding to South African businesses. It focuses on initiatives to facilitate the funding of SMEs in South Africa and encourages the participation of retail investors in the financial markets by allowing them to invest in bespoke investments.

Altvest’s mission is to provide SME’s with access to funding for their growth ambitions, via both debt and equity funding solutions. For both solutions, Altvest allows the South African public to participate in the funding through either equity or debt listed instruments.

​Altvest’s ability to advance loans, i.e., its debt solution, is via the Altvest Credit Opportunities Fund (“ACOF”) which provides SME’s with an alternative to traditional banking funding (which most don’t qualify for) and other SME funders (should their terms be unsuitable).

​Equity capital is deployed following a rigorous process whereby the public is invited, via the subscription for Altvest instruments, to crowdfund the capital requirements of the businesses being offered. 

Summary of the investment offering

In support of Altvest’s objective to provide funding to SME’s, Altvest incubated a private credit fund to facilitate debt funding to SMEs. ACOF was structured to procure equity contributions (via the issuance of C Shares) and long-term debt funders (via the listed DMTN program). Similar to Bambanani and the B Shares, Altvest authorised the allotment and issue of up to 100 000 000 C Shares with a view to raise up to R145 million in equity for ACOF in aggregate.

Altvest offered investors the opportunity to subscribe for C Shares, using the proceeds to acquire new ordinary shares in ACOF. As at the Last Practicable Date, C Shareholders have subscribed for 18 499 440 C Shares at an average price of R3.10 per C Share since the C Shares were listed on the CTSE, raising R 57,399,303 in aggregate. 29 833 894 C Shares are available for investment, at a price of R3.20 per C Share in terms of the Capital Raise.

Please see detailed breakdown in the Abridged Prosectus For each C Share issued, ACOF issues additional ACOF ordinary shares to Altvest to ensure that the capital raised is transferred to ACOF and the value of Altvest’s investment in ACOF duly increases. This allows for the value of the financial asset held by Altvest to be increased while recognizing the corresponding financial liability.

Important dates

Learn more about Altvest offerings on EasyEquities: https://campaign.easyequities.co.za/altvest

For more information please visit: https://altvestcapital.co.za/altvest-capital/