01 December 2025
RMB Delivers End-to-End Solution for Cell C's Restructuring and Successful Listing
RMB has successfully executed a fully integrated solution for Cell C's pre-IPO restructuring and listing, fulfilling the roles of Financial Adviser, Joint Global Coordinator, Transaction Sponsor, and BEE Structuring adviser.
This landmark transaction demonstrates RMB’s ability to deliver complex, multi-faceted restructurings and transactions that restore market confidence and unlock access to capital markets. The composite transaction required us to orchestrate multiple interdependent workstreams simultaneously, including complex restructuring, stakeholder negotiations, shareholder engagements, regulatory approvals, BEE structuring, and listing mechanics, all under tight timelines.
“Our solution-oriented thinking and integrated approach, combines superior financial advisory expertise with excellence in execution, enabling us to achieve the best possible outcome for Cell C," said Dave Sinclair, Co Head of Equity Capital Markets at RMB. "We are proud to partner with Cell C, a true innovator and disruptor in the telecommunications sector that continues to challenge industry norms both locally and internationally. This transaction not only secures Cell C's future but also supports South Africa's strategic goals for digital transformation and broadening access to connectivity for all. RMB’s collaborative approach with Cell C assisted in formulating innovative solutions to solve the complexities of this multi-faceted, integrated transaction."
"This listing is a celebration of how far Cell C has come and marks a major milestone that reflects the courage, resilience, and belief of our people," said Jorge Mendes, Chief Executive Officer of Cell C. "It affirms the credibility of our strategy that has positioned the business as a disruptor within the industry. Our capital-efficient model is not only about technology but about operating smarter as we build a Telco of the Future. The listing is the beginning of our next chapter with disciplined execution, ensuring our transformation continues to unlock value for customers, communities and shareholders."
RMB's end-to-end involvement included every aspect from structuring through execution, demonstrating our capability to manage complexity on a scale never seen before. The solutions enabled the emergence of a nationally significant disruptor in South Africa’s telecommunications space, ensuring continued consumer choice, price competitiveness, and network diversity in South Africa's highly competitive market.
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