UAE-based fintech company Optasia, harnessing the power of artificial intelligence, has made a notable entry onto the Johannesburg Stock Exchange (JSE) with one of the most significant IPOs in the country in recent years.
This initial public offering marks the largest fintech listing on the JSE, featuring both primary and secondary shares valued at approximately $372 million. The offering saw overwhelming demand, resulting in a valuation of around $1.3 billion for Optasia.
Following the IPO, South African bank FirstRand secured a 20% stake in the company through an off-market transaction. Optasia’s CEO, Salvador Anglada, hailed the IPO as a pivotal financial milestone for the organization, which was also celebrated by the JSE as a positive indication of investor confidence in South Africa’s capital markets.