Delisting crisis for the JSE
Almost every day, there’s some new announcement of a company looking to delist from the JSE. For investors, it’s creating a smaller pool of options. What’s behind this red tide? And what can be done to reverse the grim trend?
Leila Fourie, the newly minted CEO of the largest stock exchange on the continent, bristles when asked if the wave of delistings from the JSE this year — 21 and counting — represents something of a crisis for the local market.
"We saw this before in 2008. We’re at a low point in the cycle because our economy is in a downturn, and people typically shift their money out of equity into bonds or cash.