RH Bophelo, a black-owned healthcare company, listed on the Johannesburg stock exchange on Wednesday.
The firm plans to challenge the country’s top 3 players in the sector, after raising R500-million for the listing. RH Bophelo is targeting South Africans who can’t afford exorbitant private healthcare costs but are willing to pay for affordable, quality care.
At the opening, a share was trading at R10, with more than R7-thousand changing hands.
CEO Quinton Zunga says the company will provide investors with access to a highly sought-after asset class associated with high growth and cash generative returns.
The company has a total market capitalisation of R2.1 billion and is pegged to compete with the likes of Mediclinic, Netcare and Life Healthcare.