South African green tech giant, Agilitee, has initiated the process of going public on the Johannesburg Stock Exchange through an Initial Public Offering (IPO) while seeking to raise a total of $2 billion in equity capital, which will be conducted through a global capital raising roadshow.
Already, the company which is also a market leader in electric vehicles, has announced the appointment of AcaciaCap Advisors a Johannesburg Stock Exchange (JSE) approved sponsor for Main Board companies which also acts as a Designated Advisor for the AltX listed companies.
As part of the IPO, Agilitee is also conducting an early bird capital raising through a private placement where high net worth individuals and other qualified investors can inject a minimum of $65 000 into Agilitee and this is done while the advisors are busy with the prospectus.
A new audit group that is also Johannesburg Exchange Approved auditor has been brought in and the official engagement will be announced soon.
Agilitee has also completed the reorganization of its business, the corporate action was aimed at taking Agilitee from being a regional player to a global player in the field.
The same has led to the founder of the company resigning as the CEO of Agilitee Africa at the end of May 2022, whereas the COO of Agilitee Africa moved up to being the CEO of Agilitee Africa.
It has now formed regional structures under it, Agilitee Africa being the first one and it covers the entire continent of Africa, the company has also formed Agilitee Americas which also covers the whole of North America, Agilitee Asia also covers the whole of Asia.
The company is in the process of forming Agilitee Europe, Agilitee UK, Agilitee UAE and Agilitee South America in the next 12 months.
The founder of Agilitee, Dr Mandla Lamba, is now serving as the Founder & CEO of the global structure which is Agilitee (Pty) Ltd (the listing entity). New other appointments have also been completed and principal among those is the appointment of a former CFO of a Johannesburg Stock Exchange-listed Tech Group, which announcement will be made in a week.
Also, the company intends to give away another 10 percent, which is $2 billion worth of its shares, to the poor across the continent of Africa. This is aimed at empowering the less fortunate and ensuring that it fulfils its mandate of poverty alleviation in Africa.
Agilitee is also pro-women and is leading the charge in the bridging of the gender disparity gap.
Dr. Lamba said he is excited about the appointment of AcaciaCap Advisors.
“I have worked with Acaicap for a while as they have advised my other company on many investments that were successfully concluded on the Johannesburg Stock Exchange. I am glad they took up the challenge again when we showed up with Agilitee and said to them, please take us public through an IPO.”
This IPO is the final leg of every promise that Agilitee made when Agilitee was formed and it will usher the continent to the forefront of the global green revolution, he added
Dr. Lamba also explained that they had to reorganize the business because “we have just grown so much that our products are in demand globally, as we speak, we care concluding transactions in Europe, Australia, Asia and the UK which led to Agilitee being operational in all these markets.
We have recently set up in the US which serves as our second global headquarters. We are looking forward to serving humanity and playing our part in ushering everyone to the New World.”