Curro's Stadio Holdings lists on JSE

Stadio Holdings, the tertiary education subsidiary of private school company Curro Holdings, has achieved a significant milestone by officially listing on the Johannesburg Stock Exchange (JSE) today. Dr. Chris van der Merwe, the CEO of Stadio Holdings, shared his thoughts on this momentous occasion in an exclusive interview with CNBC Africa. The listing took place in the specialized consumer services sector of the main board. Dr. van der Merwe expressed a sense of humility and pride in the company's journey, harking back to the listing of Curro Holdings in 2011. He emphasized the commitment to contributing to the country's education landscape and expressed hopes of delivering well-rounded students in the tertiary space, akin to their success in the school sector. The key theme of the interview revolved around Stadio Holdings' vision to address the gap in South Africa's tertiary education sector. Dr. van der Merwe highlighted the disparity between the number of students in public universities and those in private tertiary institutions. Currently, only 147,000 students attend private tertiary institutions in South Africa, compared to a million in public universities. Stadio Holdings aims to play a pivotal role in widening access to tertiary education by accommodating an additional 100,000 students. The company sees immense potential for growth and views the demand for quality education as a pressing need in the country. One of the key points of discussion centered around the affordability of education in South Africa. Dr. van der Merwe drew parallels between Curro Holdings and Stadio Holdings in terms of making education accessible to a wider audience. Stadio aims to keep the average fees for tertiary students in check, with a focus on offering blended learning options that combine traditional contact learning with cost-effective distance learning. The CEO outlined plans to make education more affordable, with fees ranging from 12,000 to 45,000 rand per annum. Another crucial aspect highlighted in the interview was the company's financial strategy post-listing. Dr. van der Merwe disclosed plans for a rights issue of 840 million ZAR, with 200 million allocated for a broad-based offer transaction. Stadio Holdings intends to utilize the raised capital for funding acquisitions and to maintain a reserve for potential future opportunities. The CEO emphasized the importance of being a good corporate citizen and ensuring that a diverse range of stakeholders can partake in the company's growth journey. In terms of expansion, Stadio Holdings is currently focused on South Africa and Namibia, with potential interest in exploring opportunities in Botswana. Dr. van der Merwe reiterated the company's commitment to prioritizing South Africa's needs while keeping an eye on strategic growth prospects in neighboring African countries. The ethos of Stadio Holdings and its alignment with Curro Holdings' values underscore a dedication to enhancing education standards and accessibility across the region. Overall, the listing of Stadio Holdings on the JSE marks a significant step forward in the company's evolution. With a strong emphasis on widening access to tertiary education, maintaining affordability, and strategic financial planning, Stadio Holdings is poised to make a lasting impact on the education sector in South Africa and beyond.