Helios and Vitol’s African venture plans to float shares on London and Johannesburg Bourse

Vivo Energy, the African fuels supplier owned by premier Africa-focused private investment firm Helios Investment Partners LLP and trading commodities company Vitol Group announced today that it will be listing its shares on the London Stock Exchange and the Johannesburg Stock Exchange.

This news comes a year after Vitol Group and Helios Investment Partners LLP acquired Shell’s remaining 20 percent in Vivo Energy.

“We have shown that we are going to continue our growth story and create more value for investors,” said Christian Chammas, CEO of Vivo, to Reuters. “If you want to attract investors, you want to do it where governance is really strong and London is known for that. And we also wanted to stay in Africa because we are a pan-African retail company.”

And according to Reuters, the company expects to have a free float of at least 25 percent on admission, expected in May, after which it is also expected to be able to join FTSE UK indices. This listing will be led by Citigroup, Credit Suisse and JPMorgan.

What you should know about Vivo Energy

Vivo Energy is the company behind the Shell brand in Africa. Helios, Vitol, and Shell created the company in 2011 when Shell divested its majority share in its downstream operations in 16 African markets.  It was established to distribute and market Shell-branded fuels and lubricants.

It is present in Kenya, Uganda, Mali, Botswana, Burkina Faso, Cape Verde, Ghana, Guinea, Ivory Coast, Tunisia, Namibia, Madagascar, Mauritius, Morocco, Mozambique, Senegal, and Western Sahara.

Its retail network has grown from 1,300 to over 1,700 stations.

Since taking over from shell in 2011, Vivo has spent $600 million on expanding its retail network. It sold 9 billion litres of fuel and lubricants in 2017. And this is nearly 40 percent more than when it took over.

In 2017,  Vivo energy reported adjusted earnings before interest, tax, depreciation and amortisation of $376 million which is an increase from the $302 million recorded in 2016.

What you didn’t know about Helios and Vitol

Helios manages about $3 billion in sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices, and development finance institutions across the globe. Vitol is an energy and commodities firm trading over six million barrels of crude oil per day and refined products globally.