South African Stock Market Set for a Big AI Fintech Debut

A new player is about to shake things up in South Africa's stock market. Optasia, a fintech company that uses AI, is planning a major move. They want to raise a lot of money by selling shares. The goal is to get 6. 3 billion rand, which is about $365 million. This would be the biggest IPO in South Africa in a whole year. Optasia is based in Dubai. It was started by a businessman named Bassim Haidar. He was born in Nigeria but has Lebanese roots. The company is not just selling shares to the public. They are also offering a big chunk, 5 billion rand, in a private deal. The rest, 1. 3 billion rand, will be sold in an IPO in Johannesburg. Big banks are involved in this deal. Morgan Stanley and Standard Bank Group are helping with the listing. Investec is also part of the team, acting as the bookrunner. This news came out in a regulatory filing on Wednesday. Why is Optasia doing this? They want to buy other companies. The demand for digital finance is growing fast. Optasia wants to be ready for that growth. But is this the right move for them? Only time will tell.