Sagarmatha eyes $4 billion valuation in South Africa's first e-commerce IPO

Sagarmatha Technologies Ltd, a South African company that owns newspapers, online shopping and classified platforms, is targeting a valuation of more than $4 billion in Johannesburg's first initial public offering of an e-commerce company. Sagarmatha said it plans raise 7.5 billion rand ($636 million) in a share placement of 189.3 million shares at 39.62 rand each, it said in a pre-listing filing on its website.