Alexander Forbes lists on the JSE
Johannesburg, 24 July 2014. Today the Johannesburg Stock Exchange (JSE) welcomed Alexander Forbes (JSE: AFH) as the 11th company to list on the exchange this year. Alexander Forbes initially listed on the JSE in 1996 and now returns to the Main Board after delisting in 2007 when the company was bought by a private equity consortium.
"Our return to the JSE is an exciting and momentous occasion. It provides us with continuity to preserve the wonderful legacy and integrity of the Alexander Forbes brand, as well as the emotional and psychological equity with which we engage with and SERVE our clients, employees and stakeholders. It is also a historic moment for our permanent employees who each have been given shares which will vest after three years as our recognition of their continued contribution to our success. Finally, listing gives impetus to our current strategic intent and growth plans", said the Group Chief Executive, Edward Kieswetter.
Alexander Forbes is a leading employee benefits consulting, actuarial, investment and administration services provider and retirement fund administrator, with assets under administration of R275 billion as at the end of March this year.
"We are delighted to welcome Alexander Forbes back to the JSE where it lists in the financial services sector, one of the most vibrant on the JSE," says Nicky Newton-King, CEO of the JSE.
Statistics South Africa (SSA) estimates that the financial services sector created 13 000 new jobs in the year until the end of March and currently employs over 1.8 million people. Alexander Forbes brings the total number of companies in the financial services sector listed on the JSE to 28 and this sector contributes almost 2% to the JSE's total market capitalisation.
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
H+K Strategies South Africa
Tel: +27 11 463 2198
Director: Issuer and Investor Relations