4AX: New bourse looks healthy
The market capitalisation of the new stock exchange is nearing R7bn, with more listings expected next year
The 4 Africa Exchange (4AX), one of a handful of new alternative stock exchanges, expects to at least double the number of its listings by June next year.This week a fifth company, health-care specialist iHealthcare Group and parent company iHealthcare Group Holdings, made a trading debut on 4AX. Other 4AX listings are agribusiness NWK, PSG-aligned logistics specialist CA Sales, real estate group Heartwood and life assurer Assupol.The total number of listings tallies seven, if holding company structures like NWK Holdings and iHealthcare Group Holdings are counted.4AX was founded in 2014 and started trading with its first listing in 2017. The market capitalisation of the bourse is nearing R7bn.4AX CEO Eugene Booysen says the pipeline for potential new listings in the new year is strong. "We think we could see about six new listings in the first half of 2020."The iHealthcare listings will be closely watched. Its joint CEO, Pieter Odendaal, has said acquisitions of health-care facilit...
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