Vivo Energy plans listing

Africa-focused fuel retailer Vivo Energy on 10 April announced plans for an initial public offering (IPO) in London and Johannesburg. Vivo Energy, which has Shell-branded retail operations in 15 countries across Africa, is owned 55% by Vitol and 44% by Helios Investment Partners. Management owns the remaining 1%. Under the IPO plans at least 25% of the company will be floated in May, in what the Financial Times described as the first significant listing of an African-based business since 2014, when Nigeria’s Seplat raised $500m in an IPO in London and Lagos.