The JSE Limited’s listing attracted plenty of interest on Monday as the exchange now joins an elite club of listed bourses worldwide. Examples of bourses that have listed on their own exchanges include the London Stock Exchange, the New York Stock Exchange, Deutsche Borse, Nasdaq, Euronext, the Australian Stock Exchange, the Singapore Exchange and the Hong Kong Exchanges.
The JSE said in a press release that this move brings a heightened degree of transparency and visibility to the trading of JSE shares, which in turn has the potential to improve their liquidity and tradability.
The JSE added that the appearance of the JSE Limited on the main board will allow international and local investors — including institutional and retail investors — the opportunity to compare the JSE as a listed company with its other listed peers.
For brokers, many of whom have been members of the JSE for decades, the listing brings yet another counter on to their books to trade, the JSE noted.
“For the JSE, the listing brings with it an opportunity to both showcase itself to investors as a well-governed company as well as the opportunity to broaden our shareholder base through a broad-based black economic empowerment initiative that was integral to the listing,” said Russell Loubser, CEO of the newly listed exchange.
“This is a historical and very proud moment for South Africa and for the JSE. This listing firmly entrenches the JSE’s commitment to transformation and allows us to lead by example in every aspect of corporate life, including black economic empowerment, as a critical consideration in the social landscape of South Africa today,” said JSE chairperson Humphrey Borkum.
“It has taken 10 years of hard work to get the JSE to a stage where it can proudly stand up and be counted amongst its peers as a listed company,” said Loubser. “But if you had to ask any of my team, they’d tell you without hesitation that it’s been worth the wait.”
As a listed company, the JSE counter appears in the general financial: investment services sector under the alpha code JSE. It was last weaker at R24 after initially rising to the R26 mark, which remains the current high. An I-Net Bridge focus on Friday had expected the share to trade at the R24,50 mark. — I-Net Bridge