The Spice Group plans to raise $1 billion through a London listing in the next 10 months. The company hopes to achieve a valuation of $2 billion.
The proceeds will be used to complete the company’s plans to expand from the Ivory Coast to Indonesia (i2i), providing it the base for expansion into West Asia and Africa.
London would act as the financial and administrative hub for the group, while India would remain the firm’s knowledge centre, and Singapore its innovation base.
The company has completed the consolidation of its Mumbai arm, through the merger of Spice Mobiles and Spice Televentures, and is in the process of consolidating Spice i2i country by country. The company acquired Affinity, an Indonesian mobile device maker and distributor in 2011 for $175 million.
