Agilitee Announces IPO & Reorganization

Agilitee, the market leader in electric vehicles and a green tech giant, announced on Tuesday 21 June 2022 the appointment of AcaciaCap Advisors, a Johannesburg Stock Exchange approved sponsor for Main Board companies that also acts as a Designated Advisor for AltX listed companies.

This comes as Agilitee prepares to go public on the Johannesburg Stock Exchange via an Initial Public Offering.

Agilitee intends to raise a total of $2 billion in equity capital through the IPO of its entire business, which will be conducted through a global capital raising roadshow.

Agilitee is also conducting an early bird capital raising through a private placement as part of the IPO, in which high net worth individuals and other qualified investors can inject a minimum of $65 000 million into Agilitee while the advisors are busy with the prospectus. A new audit group has been hired that is also a Johannesburg Exchange Approved auditor, and the official engagement will be announced soon.

Agilitee has also completed its business reorganisation, with the goal of elevating Agilitee from a regional player to a global player in the field. As a result, the company's founder resigned as CEO of Agilitee Africa at the end of May 2022, while the COO of Agilitee Africa was promoted to CEO of Agilitee Africa. Agilitee has now formed regional structures under it, the first of which is Agilitee Africa, which covers the entire continent of Africa.

The company has also formed Agilitee Americas, which covers the entire continent of North America, and Agilitee Asia, which covers the entire continent of Asia.

In the next 12 months, the company plans to establish Agilitee Europe, Agilitee UK, Agilitee UAE, and Agilitee South America. Dr Mandla Lamba, the founder of Agilitee, is now the Founder & CEO of the global structure Agilitee (Pty) Ltd. (the listing entity). Other appointments have also been completed, the most notable of which is the appointment of a former CFO of a Johannesburg Stock Exchange-listed Tech Group, which will be announced in a week.

This is followed by the appointment of a new HR Director, Ms. Masego Motloba, who has over 21 years of HR experience and over 10 years of managerial and leadership experience.

The company has also appointed Mr. Nkululeko Magwaza, one of Agilitee's founding employees, as the new head of Inventory.

With this IPO, Agilitee also hopes to raise $2 billion in equity capital by selling 10% of the company to new investors. This capital raising will begin as soon as the prospectus is completed by Agilitee's newly appointed JSE approved Sponsor, AcaiaCap Advisors.

Agilitee will also give away another 10% of its shares, or $2 billion, to the poor across the African continent, with the goal of empowering the less fortunate and ensuring that Agilitee fulfils its God-given mandate of poverty alleviation in Africa.

Agilitee will set a precedent in this regard because it will be the first time in the history of IPOs that this has ever been done.

Agilitee intends to create thousands of millionaires and billionaires in Africa, with Agilitee Africa CEO Mrs Bonisile Roberts owning 2.5 percent of Agilitee and a net worth of slightly more than one billion dollars. Agilitee is pro-women and is leading the charge to close the gender gap.

Agilitee, founded in 2018, is the world's first black-owned electric vehicle manufacturer and green technology company.

It is the continent's first electric vehicle manufacturer and green tech company, through its African subsidiary, Agilitee Africa, and a pioneer in the 4th industrial revolution, electric vehicles, artificial intelligence, and, most importantly, green technology, which is the immediate future.