Equity Express Securities Exchange clinches new listings
Motus’s Ukhamba 2, MultiChoice’s Phuthuma Nathi and Media24’s Welkom Yizani join SA’s first majority black-owned equity exchange
SA’s fifth exchange, Equity Express Securities Exchange (EESE), which exclusively trades restricted shares, has clinched four new listings. On Thursday EESE, which is the first majority black-owned equity exchange in the country, listed the second broad-based BEE scheme on its platform, Motus’s Ukhamba 2. Motus is the new company that listed on the JSE on Thursday following the split of Imperial into two parts.
On Friday, the platform will list two of MultiChoice’s Phuthuma Nathi BEE share schemes as well as Media24’s Welkom Yizani. “It is a challenging time for stock exchanges. Delistings have been higher than listings. When you look at the exchange market and where it’s going, we can’t compete with the JSE on traditional types of listings, like normal equities. But we are seeing in the market a need for surveillance on restricted shares. There are also a lot of notes and bonds that require listings. We’ve had a lot of people approach us to try and solve those problems,” said...