SOUTH Africa is starting to prepare for a 2002 flotation of a stake in domestic airliner South African Airways (SAA). Public Enterprises deputy director general Leslie Maasdorp said no decision had been taken on the size of the initial public offering and when in 2002 it would take place. Analysts reckon 20-30% will be floated, with the IPO fetching close to R3bn. The proposed IPO is part of the government’s broader plan to restructure and partially privatise R170bn worth of state-owned enterprises by 2004, an exercise expected to spin at least R40bn for the treasury. – Reuters