New bourse 4 Africa Exchange off to good start
4 Africa Exchange (4AX) went live on Thursday — about a year after it was granted its exchange licence — listing agribusinesses NWK Holdings and NWK Limited, with plans to add renewable energy and property development sector companies. 4AX was "one of only two exchanges in SA with a full licence to trade across asset classes" including equity and debt, said CEO Fay Mukaddam. It had nine other companies in its pipeline including two inward listings in property development, the largest of which would have a market value of R30bn. Inward listings refer to listings of foreign entities. Other planned listings on 4AX would be in sectors such as engineering, construction, and tourism and hospitality. 4AX is the second new stock exchange to begin trading in SA and follows on the heels of ZAR X, which was launched in February. A2X Markets is expected to begin trading on October 6. 4AX and ZAR X, which were granted licences in August 2016, are embroiled in litigation. 4AX is appealing against...
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