Agilitee reorganises, targets US$2 billion capital

Green-tech company Agilitee, which recently set up shop in Zimbabwe to manufacture electric vehicles and other green energy products, has reorganised its structures as it angles to raise US$2 billion through a global capital raising roadshow,
Demand for electric vehicles, which do not use fuel, is surging, as the global prices for petrol and diesel continue to rise.
As part of the reorganisation, Agilitee has appointed Acacia Cap Advisors, a Johannesburg Stock Exchange approved sponsor, as part of its business.
In a statement, Agilitee said it is also starting a process of going public on the Johannesburg Stock Exchange through an Initial Public Offering.
“With the IPO of its entire business, Agilitee intends to raise a total of $2 billion equity capital and this will be conducted through a global capital raising roadshow. As part of the IPO Agilitee is also conducting an early bird capital raising through a private placement where high net worth individuals and other qualified investors can inject a minimum of $65 000 million into Agilitee and this is done while the advisors are busy with the prospectus. A new audit group that is also a Johannesburg Exchange Approved auditor has been brought in and the official engagement will be announced soon.”
As part of its reorganisation, Agilitee is transforming from a regional player to a global player as it plans to expand to North America, South America, Asia, the United Kingdom and the United Arab Emirates.
Agilitee announced that as it reorganises, it has also made new appointments.
“New appointments have been completed and principal among those is the appointment of a Chief Financial Officer, who used to work for a Johannesburg Stock Exchange listed Tech Group. The announcement will be made soon.
“Ms, Masego Motloba who has over 21 years HR experience and over 10 years’ experience at managerial and leadership level, is the new HR director. The company has also appointed Mr Nkululeko Magwaza who is one of the founding employees of Agilitee as the new head of Inventory.”