African fuel float

a FUEL retailer that sells Shell brands in africa plans to list on the London Stock Exchange next month, valued at up to £2.8bn.

vivo Energy is one of africa’s largest retailers with more than 1,800 Shell-branded fuel stations. it also sells fuel to commercial customers on the continent. Bosses said the firm is well placed to cash in on africa’s booming young population and increased consumer spending, and the float will help it grow into that market.

it intends to sell at least 25pc of its shares in a listing in London and plans a secondary listing in Johannesburg.