Canadian company lists on the JSE
Aimia Inc., a diversified conglomerate headquartered in Toronto, Canada, has listed on the Johannesburg Stock Exchange via a secondary listing.
Aimia is focused on acquiring controlling stakes in public and private companies with consistent earnings and free cash flow.
Its current holdings are the speciality chemicals company, Bozzetto Group, and the ropes and netting solutions company, Cortland International.
It was initially a loyalty services provider originating from Air Canada’s Aeroplan program.
Aimia’s current priorities include reducing its holding company costs, reducing the discount of its share price to its intrinsic value, and efficiently utilising its loss carry-forwards to create shareholder value.
Its listing on the JSE aims to enable the organisation to expand its investor base, improve share liquidity and become eligible for investment by South African pension funds.
“Our decision to become inward listed on the JSE is consistent with our three-step strategy focused on enhancing shareholder value,” said Rhys Summerton, Aimia’s Executive Chair.
“In particular, inward listing on the JSE will allow us to enhance liquidity and accessibility for existing investors in South Africa, qualify Aimia for potential investments by South African pension funds in the company, and facilitate our plans to acquire controlling interests in public companies.”
The group is also exploring listing opportunities on other bourses to drive greater outreach to global investors.
“The arrival of Aimia Inc. on our Main Board underscores the JSE’s value proposition as a gateway for global firms to access African capital,” said Valdene Reddy, Director: Capital Markets at the JSE.
“As we transition into a new era of regulatory simplicity, we remain committed to providing our investors with diverse, global building blocks for resilient portfolios.”
The listing of Aimia follows the launch of the Simplification Project, which revamped the Listings Requirements by using plain language and eliminating regulatory duplication.
The simplification project complements a series of other regulatory reforms that were designed to create an enabling environment and enhance market access.
This includes cutting red tape, Market Segmentation, and expanding the fast‑track universe.
It said that its fast-track secondary listing process enables global companies already listed on approved exchanges, such as the Toronto Stock Exchange (TSX), to reach South African investors efficiently.
The listing increases the JSE’s total number of listed companies to 265, with a market capitalisation exceeding R25 trillion.
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