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ITWeb Africa

Saturday, Feb 23rd

Nimbus lists in Namibia as first capital pool company

Nimbus lists in Namibia as first capital pool company

Namibia has listed its first capital pool company (CPC), Nimbus Infrastructure Limited (Nimbus), a collective capital raising vehicle by like-minded institutions and individuals who want to develop investments.

According to the company's statement, Nimbus listed on the Namibia Stock Exchange last week Friday via a private placement of shares, raising more than N$100 million. "The listing was a joint initiative between Cirrus Capital, telecoms leader Paratus Namibia and Cronje & Company."

The company says it has signed a management agreement with Paratus Namibia, whereby Paratus will manage the investments made by Nimbus.

The company says it conducted its first Capital Raising on 29 September 2017, and listed on the Namibia Stock Exchange via Private Placement. It has started trading under the share code 'NUSP' as from 6 October 2017.

"The Nimbus listing boasts exciting opportunities for Namibia, as not only does it focus on the fast-growing ICT sector across the continent, but in so doing, it offers a strong diversification opportunity for the funds of institutions and individuals alike, allowing diversified jurisdiction, currency and sector returns for investors," the company notes in the statement.

"Further to this, as Namibia's first CPC, Nimbus represents an opportunity to prove a new concept that will likely form a critical part of the future development of the Namibian real and financial sectors," it continues.

Nimbus says it allows opportunities to utilise Namibian discretionary and contractual savings to play a key role in the development of the Namibian economy for the benefit of the Namibian people. "Saving and investing is critical for an economy as investment drives increases in productive capacity and long-term growth, vital for wealth and job creation, and ultimately poverty reduction."

"The Nimbus team are grateful for the support shown by a number of institutional investors inside and outside of Namibia, who share the team's views that there is a need to develop the Namibian capital markets through innovative means. The team is further delighted by the retail interest shown on this Private Placement, and believes that the various investors will be rewarded through the future returns to be generated," the company concludes.

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