Averi Eyes Johannesburg Debut via Mining Deal

Dubai‑based Averi Finance plans to list on the Johannesburg Stock Exchange by merging with South African miner Mantengu Ltd. The move would give Averi a foothold in Africa and bring its diverse energy projects into the public market.

The deal hinges on Mantengu issuing 650 million new shares, a move that would dilute current owners but allow Averi to take control. After the transaction, Averi would own 66.7 percent of the combined entity while Mantengu shareholders retain the remaining stake.

Averi’s chief executive, Gaspar Lino, said the merger would transfer Averi’s portfolio—spanning oil, gas, renewable energy and digital infrastructure—to Mantengu. This strategy could accelerate the company’s growth by leveraging local mining expertise and access to capital in South Africa.

The reverse takeover approach is a common way for private firms to go public, sidestepping lengthy initial‑public‑offering procedures. By using Mantengu as a vehicle, Averi hopes to tap into Johannesburg’s investor base and regulatory framework more quickly.

If the talks succeed, Averi will become a listed company with exposure to both Middle Eastern and African markets, potentially boosting its visibility among global investors interested in energy transition projects.