(Ecofin Agency) - Vivo Energy Investment, firm distributing oil products (gasoline, gas, lubricants, diesel fuel, and aviation fuel) in 16 African nations is announced on the London Stock Exchange, with an initial public offering (IPO) valued at $3 billion.

The news which was published in specialized U.S. media, quotes anonymous sources close to the case. It however does not give any detail on the volume of shares to be offered, nor on the IPO’s terms. What is known however is that the firm is in talks with investment banks to handle the subscriptions of investors that will be interested in the operation when the time comes.

Vivo Energy was established in 2011, after Shell sold 80% of its oil products distribution assets in 14 African countries to Vitol SA and Helios Investment Partners (Private equity firm focused on Africa) for one billion dollar.

At the beginning of 2017, it was revealed that the Anglo-Dutch group had sold Vivo’s remaining 20% stake for $250 million.

Let’s recall that two of Vivo Energy’s subsidiaries are already listed on African stock markets, knowingly in Mauritius and also on the Bourse Régionale des Valeurs Mobilières of the WAEMU, based in Abidjan, Côte d’Ivoire.

Idriss Linge