Spin-offs and a run of records are helping the JSE book a strong year for listings in 2017. Of the 18 debuts this year, six are carved out of other companies, most of which are publicly traded. A further four new arrivals are backed by collections of investment holdings, rather than providing a direct bet on any single business. "It’s simply a function of trying to crystallise value with the high valuations that the companies are seeing," said Grant Cullens, who helps oversee $1.3bn as CEO of African Alliance Asset Management in Johannesburg. "It’s better to do that when the market is up here, rather than when it’s down 200 or 300 points lower." The benchmark JSE all share index, which was up 0.1% at 2pm on Monday, has clocked eight records in October, shaking off the restraints of weak economic growth and a divisive ANC leadership contest. With the final quarter traditionally a busy one for new listings, the exchange expects more companies to seek to make the most of the biggest st...
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