Cell C Holdings Limited today listed on the Johannesburg Stock Exchange (JSE) under the ticker CCD.
The listing closed at R26.50 per share, valuing the business at approximately R9-billion with 340-million ordinary shares in issue.
The offer included 102-million sale shares, raising R2,7-billion for the selling shareholder, The Prepaid Company (TPC), a subsidiary of Blu Label Unlimited Group.
The offer also included a further allocation of about 54,2-million shares to Sisonke Growth Partners as part of TPC and Cell C’s commitment to empowerment. The total transaction value including the capital raise and allocation to Sisonke Growth Partners was about R4,1-billion.
Over the past two years, Cell C has undergone a strategic reset centred on efficiency, customer value, and digital inclusion, culminating in the JSE listing.
The pro-forma financial position for the period ended 31 May 2025 are as follows:
- Revenue: R13,7-billion
- EBITDA: R3,7-billion
- Net Income after tax: R3,5-billion
- Capex Intensity: 5,7%
- Debt reduced to 2,7x operating profit
- R2 billion in partner renegotiation savings unlocked.
“This successful listing confirms our belief that a leaner, more agile operating model can compete effectively while keeping connectivity affordable for all South Africans,” says Cell C CEO Jorge Mendes. “We’ve shown that purpose and profitability can coexist and win.”