AltX lists 100th company
BERMUDA-based Osiris Properties International became the 100th company to list on the JSE’s AltX.
AltX spokeswoman Nicole Cheyne said since the alternative exchange was launched on October 27 2003, 100 companies had listed on this market for small and growing businesses.
"Of these, 21 have successfully transferred to the main board, 16 have delisted, and there are currently 63 companies listed on AltX," said Ms Cheyne.
"More than R1.25bn has been raised via this market. This year, there have been three new listings," she added.
"The JSE is extremely supportive of AltX. There has been a dip in listings across the main board and AltX, and we look forward to an improvement.
"There is, however, ongoing interest in terms of listing on AltX, but the listing cycle is protracted," she said.
This is a secondary listing for Osiris, which has its primary listing on the Bermuda Stock Exchange.
The company aims to opportunistically acquire good quality undervalued property assets, predominantly in the UK and Europe, and to offer investors a high-yielding property investment.
CEO Peter Todd said Osiris Properties presented an attractive opportunity for South African investors.
"Our secondary listing on AltX further enhances the company’s ability to raise capital," Mr Todd added.
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