December 8, 2021

JSE now offers secondary listings from Singapore

The Johannesburg Inventory Trade (JSE) says it has expanded its secondary listings framework, now providing secondary listings from the Singapore Inventory Trade (SGX).

This permits corporations with a main itemizing on the SGX to hunt a secondary itemizing on the JSE, moreover qualifying for the quick observe itemizing route, it stated.

An organization looking for an inventory on the JSE could achieve this by way of a main or secondary itemizing. A secondary itemizing signifies that as soon as an organization is listed on the JSE, it’ll solely be required to adjust to the Listings Necessities of the trade the place it has its main itemizing.

With the quick observe itemizing route, which has been provided by the JSE since 2014, corporations with a main itemizing on an accredited trade, which now consists of the SGX, don’t require a pre-listing assertion to listing on the JSE’s Essential Board or Different Trade (AltX), supplied they’ve been listed on the SGX for at the very least 18 months, the group stated.

The inspiration of the quick observe itemizing route is that data on these candidates are nicely disseminated of their markets, and as such makes it a straightforward and seamless course of to dual-list on the JSE.

A few of the advantages of a quick observe itemizing embrace:

  • Expedited approval of itemizing between three-six weeks;
  • Fewer prices and sources are required on the premise that no pre-listing assertion is required in comparison with a prescribed pre-listing announcement;
  • Minimal as soon as off charges and discounted annual itemizing prices;
  • All dual-listings are topic to a 70% low cost on JSE annual itemizing charges, of which fast-tracks are eligible for this low cost.

“Singapore has a unique position in the global economy and plays a pivotal role as a business epicenter in Asia. The country has established itself as a reputable financial and regional trading centre and is seen as the world’s gateway to Asia,” stated Valdene Reddy, director of Capital Markets on the JSE.

As a part of JSE’s Asia technique to draw new listings, Singapore is among the nations recognized to drive this development. Our native buy-side purchasers are at all times seeking to improve the geographic diversification of their portfolios. The SGX inclusion in our listing of accredited exchanges will enable for a much-needed improve to our pool of inward listed devices in our market.”

The JSE presently affords the fast-track itemizing path to corporations with a main itemizing on the Australian Inventory Trade (ASX), London Inventory Trade (LSE), New York Inventory Trade (NYSE), NYSE Euronext, or Toronto Inventory Trade (TSX) to drive secondary listings on the JSE.

The JSE additional launched an authorised listing of overseas exchanges in 2018, to afford overseas corporations extra readability on acceptable main exchanges when looking for a secondary itemizing on the JSE.

“The addition of secondary and quick observe listings from SGX enhances and helps our efforts to develop within the area. The initiative goes hand in hand with our information providing in addition to different initiatives to advertise South Africa as an funding vacation spot such because the SA Tomorrow convention.

“We believe that this streamlined process will support offshore companies to quickly and efficiently access South Africa’s deep pools of capital,” stated Leila Fourie, group CEO JSE.

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