The Markets

JOHANNESBURG (Capital Markets in Africa) – Murray & Roberts Holdings Ltd. sees a fair value for the South African engineering and construction company at as much 9.8 billion rand ($821 million), setting a price tag for Germany’s Helmig family after rejecting an offer last week. After reviewing an independent report by BDO Corporate Finance Proprietary Ltd., Johannesburg-based Murray & Roberts values the company at between 20 rand and 22 rand a share, it said in…

JOHANNESBURG (Capital Markets in Africa) – Consol Holdings Ltd., the glass-packaging maker that last traded on Johannesburg’s bourse more than a decade ago, said it’s plotting a return and is seeking to raise 2.7 billion rand ($227 million). Consol delisted in 2007 after a group of private-equity investors led byBrait SE took it private. Consol’s return, mooted for at least three years, previously faced uncertainty amid South African political turmoil and slowing economy. Under new President Cyril…

HARARE (Capital Markets in Africa) – Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world’s biggest platinum reserves after South Africa tries to bring in money to fix the economy. “No mining right or title shall be granted or issued to a public company unless the majority of its shares are listed on a securities…

ACCRA (Capital Markets in Africa) – MTN Group Ltd.’s Ghanaian unit lifted its target for an upcoming initial public offering by more than a half to 3.48 billion cedis ($787 million), according to two people familiar with the matter. Africa’s biggest mobile-phone company by subscribers is preparing to list a 35 percent stake in its Ghanaian business on the local stock exchange, valuing the unit at about $2.2 billion. While the bourse estimated the value…

JOHANNESBURG (Capital Markets in Africa) – Deutsche Bank AG sees initial public offerings and bond sales driving South African deals this year after a record 2017. The country’s capital markets are “buoyant,” driven by global sentiment, and a “backlog” of IPOs that were due to happen late last year will now happen in 2018, Simon Denny, head of corporate finance for Deutsche Bank’s Johannesburg-based unit, said in an interview. “Sentiment has swung around and I am bullish around…