The JSE universe is getting smaller. With very few new listings, and many more market departures likely, IM will have a smaller number of listings to peruse and write about in the months — maybe the years — ahead. I don’t have the time or the inclination to morbidly count the number of JSE listings. But I can tell you that my 2001 JSE Handbook is as thick as a copy of Moby Dick, while the latest edition of the handbook is not much thicker than my copy of Of Mice and Men.

Okay, I exaggerate a tad. But the point is that the JSE is not the most hospitable place these days. Companies are more likely to want to leave the bourse than get on to. The cost of listing and regulatory burdens — coupled with the jaundiced sentiment that pervades the investment community at this nasty juncture — will certainly snuff out enthusiasm for remaining on the market...

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