UBS Investment Bank placed nearly a third of the share capital in retailer Massmart Holdings, the largest proportion of a South African company ever sold in an accelerated deal, according to the bank.

The bank sold a 30.9% in Massmart over three days to raise 1.6bn South African Rand (€178m). UBS was global co-ordinator and joint bookrunner with ING of Massmart's initial public offering in 2000.