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Adved joins the class of 1997 listings boom
NEW LISTINGS
ADVTECH Educational Holdings (Adved), which houses the specialised private education interests of the AdvTech Group, joins the 1997 listing boom when it goes to the JSE on October 27. Brian Buckham, chairman and founder of the AdvTech Group, says after the listing Adved will make a rights offer of renounceable letters of allocation to raise R104.9-million. The listing will provide "a separate identity for the educational division, access to capital for future acquisitions and expansion, and organic growth, and permit the group to grow fast without undue gearing". When the listing is complete, the AdvTech Group will consist of two subsidiaries: Mast and Adved. Mast holds the group's technology training companies including Time Systems and Mast Training Consultants, while Adved houses its education interests. Adved is one of the leading private education companies with 70 colleges, schools and franchise operations employing 800 teachers and lecturers. The institutions include Crawford and Abbotts Schools, College Campus and Global School of Business. The group plans to open SA's first traditional private university in 1999 with campuses in Johannesburg, Cape Town and Durban. It will be run by an Australian university and will offer a range of traditional university courses. Adved is the latest in a line of all-education focused stocks which are attractive and seen as pregnant with potential. Analysts say these are the new niche stocks. Their attraction stems from perceptions - held by middle-class SA - that the quality of state education, including universities, is on the decline; and from the demand for distance education from working people. Buckham agrees and says his company believes that while government is struggling to provide and fund better education to millions of the disadvantaged, Adved has the opportunity to provide world-class education to the private sector.
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