IMD-1-0231 © 2005
Leleux, Benoit F.; Ogunsulire, Mope; El-Agamy, Hischam
This really is an abridged variant of the B-instance which takes up the WIPHOLD narrative post-IPO; from April 1997 to April 1998. Flush with all the success of its IPO; in which R23 million was raised by it; WIPHOLD was ready to proceed to better and bigger things. The founders were keen to rid themselves of the debt collected from participating in some early deals along with the strings. WIPHOLD needed more cash to fund them and was also increasingly gaining access to bigger deals.
In an environment of rising "black chips;" WIPHOLD was pulling increasing institutional interest and was assured of its own ability to raise more funds. Nevertheless, the institutional cash came with a price a public listing within six months of positioning. Was WIPHOLD ready for the public marketplace now?
Wiphold B Institutionalizing Abridged Case Solution
Subjects: Entrepreneurship; Private equity; South Africa; Economic empowerment; Black economic empowerment; BEE; Postapartheid; Social entrepreneurship; Development finance; Special purpose vehicles
Settings: South Africa; Financial services; US$165 million; 1997-1998
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