JOHANNESBURG, June 23 South Africa's Alexander
Forbes confirmed on Monday it intended to float unlisted shares
on the Johannesburg bourse and that a unit of Marsh & McLennan
would become a strategic investor with 34 percent stake
after the listing.
Some preference Alexander Forbes' shares are
already listed on the JSE.
"We are proud to announce that following the evaluation of
various strategic options for the group, we are progressing with
a listing," said Edward Kieswetter, chief executive of the
financial services company.
He did not give details how many shares would be sold and at
what price when the listing happens on July 24.
Its preference shares were down 1.3 percent to 9.38 rand,
outpacing a 0.3 percent decline in the All-share index.
(Reporting by Tiisetso Motsoeneng; Writing by Helen
Nyambura-Mwaura; Editing by Ed Stoddard)