RMB brings Premier Group to the JSE

MEDIA RELEASE

23 March 2023

RMB brings Premier Group to the JSE in first major IPO since 2018

RMB has worked with Brait PLC, the investment holding company listed in Luxembourg and Johannesburg, to list leading consumer packaged goods company Premier Group separately, on the main board of the JSE and raise up to R3.6 billion.

Dave Sinclair, Head: Equity Capital Markets for RMB, said the bank had acted as Joint Global Coordinator, Joint Bookrunner, Sponsor and Stabilisation Manager in respect of the initial public offering (IPO) of Premier Group, the first major IPO on the JSE since 2018.

“RMB also acted as lead bank and majority lender to Premier Group in the restructure and upsizing of its R2.9bn debt package, thereby providing an extra R1bn in funding over and above funds raised from the IPO. The combination of the enlarged debt package and IPO have the added benefit of providing significant liquidity for Premier Group shareholder, Brait, allowing Brait to significantly deleverage its balance sheet.”

Sinclair added that the listing will also improve Premier Group’s public profile and provide it with access to a broader investor base via the equity capital markets.

“Premier Group will now be better placed to pursue growth and strengthen its market position across major categories.”

Premier Group products include Iwisa maize meal, Snowflake, Blue Ribbon bread, Lil-Lets and Dove cotton wool products, amongst other well known South African brands. 

It enters a competitive segment of listed food producers including AVI, Tiger Brands, Rhodes Food Group and Libstar.

RMB has been a funder to both Premier Group and Brait for a number of years and looks forward to continuing and strengthening its relationship with both businesses.

End

Contact:

Kate Kelly l RMB l kate.kelly@rmb.co.za