Vivo Energy, an Africa-focused retailer and marketer of Shell-branded fuels and lubricants, has raised GBP548 million (approximately US$744 million) through its initial public offering (IPO) on the London Stock Exchange. Vivo’s existing investors sold 332 million shares at GBP1.65 (approximately US$2.24) per share, valuing the company at GBP1.98 billion (approximately US$2.7 billion). Africa-focused private equity fund manager Helios Investment Partners sold 148 million shares for GBP245 million (approximately US$332 million) while energy and commodities company Vitol Group sold 184 million shares for GBP304 million (approximately US$413 million). Vivo’s London IPO was followed by a secondary inward listing on the Johannesburg Stock Exchange. Helios and Vitol originally acquired an 80 percent stake in Vivo from Shell for US$1 billion in 2011; they paid a further US$250 million for Shell’s remaining 20 percent stake in 2016.