Private investment platform Alvest Capital has joined the Johannesburg Stock Exchange (JSE). <\/p>\n\n\n\n
Alvest is joining the JSE to raise liquidity and is listed on the Alternative Exchange (AltX) Board.\u00a0<\/p>\n\n\n\n
\u201cAt the heart of Altvest Capital\u2019s mission is the goal of bridging the financial accessibility gap by funding South African Small and Medium Enterprises (SMEs) through debt and equity instruments,” said Warren Wheatley, CEO of Altvest Capital.<\/p>\n\n\n\n
“We seek to raise this debt and equity by designing investment instruments that are accessible to retail and institutional investors on the same terms, conditions and price.\u00a0Listing on the JSE is a strategic move that will help us reach more investors and enhance these investment and funding opportunities for all.” <\/p>\n\n\n\n
The company transfers its listing from the Cape Town Stock Exchange to the JSE’s AltX Board. <\/p>\n\n\n\n
Altvest is one of South Africa’s more recently established investment holding companies. It offers a variety of asset classes, from private equity to property. <\/p>\n\n\n\n
Future projects include venture capital, renewable energy, sustainable agriculture, and blockchain-led projects.<\/p>\n\n\n\n
Through its listing on the JSE, Altvest can tap into a broader investor base, allowing for capital raising and improving the company\u2019s ability to finance growth initiatives.<\/p>\n\n\n\n
\u201cSmall and medium enterprises are essential to growing South Africa\u2019s economy, and the JSE\u2019s AltX Board is a springboard for SME growth. <\/p>\n\n\n\n
“We welcome Altvest and other companies looking to enable growth and access greater liquidity, broader market reach and a deeper investor pool,\u201d said Valdene Reddy\u00a0Director of Capital Markets at the JSE.<\/p>\n\n\n\n
Altvest is listing with the following information: <\/p>\n\n\n\n
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“The JSE has seen its strongest listings pipeline in five years. Despite a challenging financial environment, the number of listings has grown,” said Reddy.<\/p>\n\n\n\n
“This growth reflects the efficacy of the exchange\u2019s efforts in creating an enabling environment, including recent regulatory reforms, the JSE’s ability to support emerging sectors and a positive outlook for our capital markets.” <\/p>\n\n\n\n
\u201cWe have seen incredible activity this year and a positive market reaction to the latest listings of WeBuyCars, Rainbow Chicken and Cilo Cybin.\u201d<\/p>\n\n\n\n
Altvest is joining other Diversified Financial Services entities, a category which aims to help diversify investment opportunities in new sectors and asset classes. <\/p>\n\n\n\n
The new listing increases the number of listed companies to 279, with a market capitalisation exceeding R19.7 trillion.<\/p>\n\n\n\n
Leave the JSE <\/strong><\/p>\n\n\n\n The JSE has bled companies over the last several years, dropping from 616 to 279 today. <\/p>\n\n\n\n Sasfin Holdings Limited wants to delist from the JSE. <\/p>\n\n\n\n Sasfin said that its delisting forms part of a strategic repositioning aimed at unlocking value for Shareholders over the short to medium term.<\/p>\n\n\n\n The group has faced numerous headwinds, such as an R210 million fine from the Reserve Bank, a nearly R5 billion tax claim from SARS, and failure to publish its financial results within the required period. <\/p>\n\n\n\n