Artificial intelligence-powered financial-technology firm Optasia plans to raise 6.3 billion rand ($365 million) selling shares in South Africa and use the proceeds to acquire companies as demand for digital finance booms.
The Dubai-based company founded by Nigeria-born Lebanese entrepreneur Bassim Haidar will raise 1.3 billion rand in an initial public offering in Johannesburg, while the founders will offer 5 billion rand of shares in a private placement. Optasia hired Morgan Stanley and Standard Bank Group Ltd. to assist with the listing, as well as Investec as its bookrunner, according to a regulatory filing on Wednesday.