JSE pins blame for delistings on weak economy and private equity
Downturn makes raising debt easier, limiting the number of companies coming to the exchange for funding, CEO Leila Fourie says
JSE CEO Leila Fourie has defended the exchange against fierce criticism at its annual general meeting last week over its inability to arrest a continued slide in listings, saying it is a symptom of a weak economy and new trends in how companies raise capital.
Data compiled by Chris Logan, chief investment officer at Opportune Investments and among the strongest critics at the June 3 meeting, shows 137 companies delisted from the JSE between 2015 and 2020. Though the exchange attracted 83 new listings over that time, it was still left with a net 54 delistings. There have been 14 more delistings so far in 2021...