SouthAfrica.info (Johannesburg)

South Africa: JSE's AltX Notches Up 100th Listing

Bermuda-based Osiris Properties International on Monday became the 100th company to list on the Johannesburg Stock Exchange's AltX market for smaller and growing companies.

This is a secondary listing for Osiris, which has its primary listing on the Bermuda Stock Exchange. The company seeks to offer investors a high-yielding property investment by acquiring quality undervalued property assets predominantly in the UK and Europe.

"Osiris Properties presents an attractive opportunity for South African investors," company CEO Peter Todd said in a statement on Monday. "Our secondary listing on AltX further enhances the company's ability to raise capital."

AtlX spokesperson Nicole Cheyne said that 100 companies had listed on AltX since its launch in 2003. Of these, 21 had successfully transferred to the JSE's main board and 16 had delisted, leaving 63 companies currently listed on AltX.

"More than R1.25-billion has been raised via this market," Cheyne said.

This was the third listing on AltX this year. There has been a dip in listings across both the JSE's main board and AltX, due to a weak global economy, but Cheyne said the bourse was looking forward to an improvement.

Also on Monday, financial services company Prescient Holdings listed on the JSE's main board via a reverse listing into PBT Group (previously Prescient Business Technologies).

Industrials are the biggest industry on AltX by number of companies, while financials constitute 46% of the overall market capitalisation of over R12.5-billion.

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