New Tech Listing Set For The Johannesburg Stock Exchange
The Johannesburg Stock Exchange is set to welcome a new tech listing in October, with data technology company 4Sight Holdings joining the South African bourse next month.
The development represents the first new tech listing on the Johannesburg Stock Exchange in almost three years, with 4Sight Holdings listing on the JSE’s Alternative Exchange – AltX, according to ITWeb.
The last IT-related tech listing on the South African exchange was services sector company Cartrack in December 2014.
Incorporated in Mauritius, the data technology company refers to itself as “a pioneer in Industry 4.0 technology”, according to Moneyweb.
The company’s aim with the listing is to raise in the region of $23.15 million through new South African investors.
The funding will be used for acquisitions and the incubation of new products in sectors such as retail and healthcare, TechCentral reports.
A focus on acquisitions for new tech listing
4Sight Holdings is focused heavily in acquisitions as a strategy, having acquired telecommunications, media and property services company Digitata Mauritius on a share for share basis in June, according to BusinessDay.
Digitata uses big data, machine learning, artificial intelligence, blockchain technology and data science capabilities to indirectly serve more than 60 million consumers in 15 countries.
The data tech company is led by co-founder and CEO Antonie van Rensburg, who believes that long-lasting partnerships with other tech companies through acquisitions.
“We foresee a growth in demand for real-time decision solutions in the Fourth Industrial Revolution,” Van Rensburg said, according to EngineeringNews.
“The underlying power to unlock economic value lies in the use of scientific and engineering skills applied cross-functionally with disciplines such as econometrics, medical sciences, bio-informatics, and astrophysics,” he said.
“Our acquisitions are aimed at creating long-lasting partnerships with Industry 4.0 companies to ensure our core focus on intelligent algorithms are secure for future licensing revenue flows,” the CEO added.
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