The Johannesburg-based firm is mulling a share sale later this year, depending on market volatility and uncertainty caused by Russia’s invasion of Ukraine, said the people, who asked to remain anonymous as the plans are still private.
Fidelity’s IPO would be the first on Johannesburg’s bourse since food maker Libstar Holdings Ltd in 2018, according to data compiled by Bloomberg. South Africa’s private-security industry is in demand due to a high crime rate and a malfunctioning police force. The country has more than 11,000 businesses registered in the sector employing more than 500,000 guards.
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