AltX at the JSE lists 100th company today
20 August 2012: Bermuda-based Osiris Properties International Limited (JSE Share Code: OSI) became the 100th company to list on AltX of the Johannesburg Stock Exchange today. This is a secondary listing for Osiris which has its primary listing on the Bermuda Stock Exchange.
The company aims to opportunistically acquire good quality undervalued property assets predominantly in the UK and Europe and to offer investors a high yielding, property investment.
Says Peter Todd, CEO, “Osiris Properties presents an attractive opportunity for South African investors. Our secondary listing on AltX further enhances the company’s ability to raise capital.”
Nicole Cheyne, AltX spokesperson explains, “Since AltX was launched on 27 October 2003, 100 companies have listed on this market for small and growing businesses. 21 of these have successfully transferred to the Main Board, 16 have delisted and there are currently 63 companies listed on AltX. More than R1,25 billion has been raised via this market. This year, there have been three new listings.”
She continues, “The JSE is extremely supportive of AltX. There has been a dip in listings across Main Board and AltX and we look forward to an improvement. There is however ongoing interest in terms of listing on AltX but the listing cycle is protracted.”
Distribution of companies by market cap (16 Aug ‘12)
At 16 August 2012, there were two companies with market cap over R1 billion.
Number of companies and market cap (2003 - 16 August 2012)
AltX sector and relative market cap (August 2012)
Industrials are the biggest industry on AltX by number of companies while Financials constitute 46% of the overall market capitalisation of over R12.5 billion.
The AltX index began in 2006 with 16 constituents and capital index value of 1999.54. Since the launch to date the index is down 44.8%.The highest ever value was 5041.94 on 14 November 2007 and the lowest ever value was 986.23 on 29 June 2010. As at 16 of August 2012, the index has 43 constituents and capital index value of 1103.89. ENDS