Stephen Koseff calls for JSE rule change to allow companies to quickly raise cash in times of crisis
Former Investec CEO says local equity markets has been closed during current crisis on account of rules that require shareholder approval to issue shares
26 May 2020 - 23:47
Stephen Koseff, the co-founder and former CEO of Investec, called on the JSE to amend its listing rules to allow companies to issue shares without the consent of shareholders to enable them to quickly raise funds in times of crisis instead of relying entirely on bank finance.
"It would be very easy for our stock exchange to change the rules to allow companies to issue shares very, very quickly without interference from shareholders, because you need that in a time of crisis, like now," Koseff said...
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