Bambanani family group goes public

Content supplied by Altvest

Altvest is an innovative investment platform that aims to bring alternative assets that were previously held by the wealthiest people to all South Africans. They have recently announced their second investment to the platform, Bambanani family group.

Bambanani is a concept that acknowledges the needs of both parents and young children alike. It is a family-focused restaurant based and operating for over 14 years in Melville, Johannesburg with a unique value offering that pairs sophisticated adult dining, experience with childcare, safe play areas, and children’s entertainment. This concept enables parents to relax / work while their children are taken care of within a safe environment.

The owner of Bambanani, Caryn Cohen, is an experienced Entrepreneur in South Africa and has developed a strong local brand and network of passionate guests, many of whom visit several times a month for years. Now Caryn wants to take the restaurant concept to a different audience — co-investors via the Cape Town Stock Exchange. Cohen said the following regarding the investment opportunity “We want Bambanani to be a ‘mommy brand’ which is owned and run by moms. We truly appreciate the input of real moms who understand our value, and look forward to having Bambanani run by savvy women who create opportunities for themselves and the people they love.” Cohen wasn’t keen on corporate investors either and realised that her biggest backers were surely her clientele — mothers, especially.

Partnership with Altvest enables Bambanani to provide an opportunity for loyal customers to invest in the restaurant and own a meaningful piece of the Bambanani brand. Strategic investors will form part of the “Advisory Committee”, where they will be able to provide input on the future direction of Bambanani and develop an operational understanding of the business. AltVest is handling the bookbuild which is currently ongoing, where shares are to be issued at R10 each. So far, they’ve raised R5.5m, with a total goal of R12.5m. A listing will then follow on the CTSE on December 12th.

The Altvest structure enables investment in Bambanani as Altvest develops preferred ordinary shares which will be offered to investors for purchase, before ultimately being listed on the CTSE and A2X. Altvest will link economic rights from the preferred ordinary shares to equity in Bambanani, so investors get ring-fenced and protected exposure in Bambanani. Altvest will manage shareholder administration, allowing Bambanani to raise capital from ordinary investors without the admin and cost of being listed directly.

Proceeds from the investment will be used to refurbish and expand the current restaurant in Melville and expand Bambanani to different areas in South Africa. Cohen’s vision is to replicate Bambanani’s success around different parts of SA — owned by her prospective partners — parents. “I want a place where [mothers] can learn, network and have support for their kids while raising their families.”

The bookbuild for Bambanani opened on 28 November which enabled investors to secure their shares at the fixed listing price of R10 per share. The bookbuild will remain open until the 5th of December and the listing will officially take place on the 12th of December.

For more information and an overview of the investment, you can head to the Altvest website or reach out to [email protected].

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