JSE welcomes PLG Schools to its AltX board
Schools listing enhances investor choice in education sphere
Johannesburg, 31 March 2017. PLG Schools, which forms part of the Pembury Lifestyle Group, listed in the Specialised Consumer Services sector on the JSE’s AltX board today. This is the third listing on the JSE this year, and a first on the AltX Board, which focusses on growing small businesses. Currently the AltX board has 56 companies listed, with a total market capitalisation of R30.7 billion.
Pembury Lifestyle Group established PLG Schools in 2014, having initially focused on developing retirement accommodation when the Group was founded in 1999. In just two years‚ PLG Schools now has 19 schools in Gauteng and the North West Province.
Donna Nemer, Director of Capital Markets at the JSE, says: “The JSE is pleased to welcome PLG Schools, which is directly targeting the affordable schooling space, to the AltX Board. This listing opens up further opportunities on the JSE for those investors who wish to invest in education in the comfort of a risk-controlled environment. This listing will also help the PLG Group raise the necessary funds to help its growth aspirations, which include adding several new school campuses to its portfolio, as well as a property division in the future.”
The AltX board was launched 14 years ago with small to medium companies in mind. “Access to financing remains a challenge that hinders expansion for many businesses and this is where a listing on AltX can be an exciting opportunity for smaller businesses to raise capital, as companies have access to a wide range of investors and they can operate in an environment regulated by a world-renowned stock exchange,” says Nemer.
Pembury Lifestyle Group’s Founder and CEO, Andrew McLachlan, says, “Through this listing and the planned expansion of PLG Schools, we aim to bridge the financial gap between government school fees and the ‘elite’ independent school fees to bring the benefits of private education to many more families. Independent and quality education must be accessible and affordable to more communities across South Africa, thus driving education outcomes and economic development forward.”
PLG Schools is focused on building mid-sized campuses with 600 to 1 200 learners per school and no more than 25 learners per class. “This listing will enable PLG Schools to provide quality and affordable education to thousands more South African learners who are hungry for knowledge and a brighter future,” concludes McLachlan.
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