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Not for publication, distribution or release in the United States, Canada, Australia or Japan (including its territories and possessions).
GUS plc, the retail and business services group, today confirms its intention to seek a partial IPO of the Lewis group, its South African retailing business, on the JSE Securities Exchange South Africa in the coming weeks.
As previously stated, the listing will enable GUS to release value for its shareholders, while enhancing the development opportunities for the Lewis group.
John Peace, Group Chief Executive of GUS, commented:
“The plan to float part of the Lewis group is another important step in reshaping the GUS portfolio, by focusing it on fewer activities. The Lewis group has a clear strategy for growth underpinned by its strong market position and excellent management team.”
Full details of the offering will be included in a prospectus expected to be published in the middle of September. Trading is expected to commence, subject to market conditions and the fulfilment of all conditions to the offer and listing, in early October 2004.
The listing is expected to be effected by way of a domestic offer in South Africa, with a tranche being made available to institutional investors outside of South Africa. UBS Investment Bank has been appointed as sole bookrunner of the offering. Cazenove and Investec Bank are acting as co-lead managers.
Not for publication, distribution or release in the United States, Canada, Australia or Japan (including its territories and possessions).
GUS plc, the retail and business services group, today confirms its intention to seek a partial IPO of the Lewis group, its South African retailing business, on the JSE Securities Exchange South Africa in the coming weeks.
As previously stated, the listing will enable GUS to release value for its shareholders, while enhancing the development opportunities for the Lewis group.
John Peace, Group Chief Executive of GUS, commented:
