Tag Archives: Johannesburg Stock Exchange JSE
Johannesburg Stock Exchange JSE: Latest News
Dana Sanchez, 4:53 pm
An IPO today on the Johannesburg Stock Exchange introduced a new option for investors who want to add African exposure to their portfolios. The AMI Big 50 ex-SA ETF offers 50 African blue-chip companies outside South Africa. The IPO is a world first – an ETF offering exposure to a pan-African index that excludes South Africa. “A lot of people do worry about the liquidity risk, but being an ETF means that there is a secondary market on the JSE which allows investors in smaller quantities to trade exposure in and out of Africa,” a stakeholder said. The ETF is managed by Cloud Atlas, which plans to launch two more Africa-focused ETFs by July.
Kevin Mwanza, 7:04 am
South Africa could soon have three more stock exchanges competing with the continent’s largest bourse, the Johannesburg Stock Exchange (JSE), after the country issued its first operating license in more than a century to the ZAR X Stock Exchange in March and plans to issue two more. According to a Quartz Africa report, two more exchanges, 4AX and A2X, are awaiting certification from the regulator.
Staff, 7:16 pm
South Africa gave its first stock exchange operating licence in over 100 years to the ZAR X Stock Exchange. ZAR X will compete against the Johannesburg Stock Exchange (JSE), and will begin trading Sept. 1. The new exchange is South Africa’s second. JSE is Africa’s biggest and most liquid stock market. “The ZAR X model is world leading and significantly reduces settlement risk as all transactions are pre-funded,” according to ZAR X.
Kevin Mwanza, 6:19 am
South Africa’s President Jacob Zuma has called for more blacks to be appointed on company boards in a move he says will promote black leadership in top business positions, Reuters reported. Zuma, who was addressing a rally on Saturday, asked the private sector to change its policies faster and give South African blacks a larger stake in their business.
Kevin Mwanza, 3:23 am
MTN Group CEO, Sifiso Dabengwa, has resigned with immediate effect after the company’s Nigerian operations was fined $5.2 billion by the industry regulator , the company announced early on Monday. The Africa’s largest telecoms operator was two weeks ago slapped with the largest fine any company on the continent has ever faced for allowing 5.1 million subscribers in Nigeria to continue using unregistered SIM cards
Kevin Mwanza, 3:31 am
MTN Group faces a hefty fine in South Africa if the regulator confirm that there were cases of insider trading on the firm’s shares at the Johannesburg Stock Exchange before it announced it had been fined a record $5.2 billion in Nigeria. MTN, Africa’s largest mobile phone services company, was last week slapped with the largest fine any African company has ever faced by the Nigerian Communication Commission
Staff, 4:22 am
Stock markets in Nigeria, Kenya and South Africa are planning to launch cross-listed exchange traded funds later this year, as part of an initiative that aims to boost liquidity across Africa’s three largest markets. ETFs are a collection of equities, commodities or bonds bundled together in a fund to ensure that investor risks are evenly spread across this range of securities.
Kevin Mwanza, 4:49 am
Companies listed on the Johannesburg Stock Exchange (JSE), operator of Africa’s largest equity and bond markets, raised the most money from share sales in at least nine years in 2014 to fund expansions outside their home market. Equity sold on the JSE jumped 58 percent this year to 147 billion rand ($13 billion), the most since at least 2005, according to data provided by the JSE in an e-mail on Dec. 19. The bourse had 23 companies list their securities this year, eight of which were real-estate businesses, the data show.
Dana Sanchez, 1:56 pm
South Africa’s benchmark stocks index rose above 50,000 for the first time today. Foreign investors put 23 billion rand into Africa’s largest stock exchange through May 16 compared to 13.5 billion rand in the same period of 2013, according to data from the Johannesburg Stock Exchange. The money from offshore investors is boosted by excess cash in local pension funds, a securities trader told BloombergNews.
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