Amsterdam, 28 October 2024: Euronext now stands alongside an esteemed group of global exchanges already recognised for the JSE’s fast-track process, including Hong Kong Exchanges and Clearing Ltd (HKEX), the London Stock Exchange, Australian Securities Exchange, New York Stock Exchange, Toronto Stock Exchange, and the Singapore Stock Exchange.
Established in 2000, Euronext has nearly 1,900 listed companies – some of which include investment giant Prosus, and beverage corporation Heineken – worth approximately €6.3 trillion in market capitalisation a as of the end of September 2024.
The JSE's fast-track listing route offers an expedited approval process which eliminates the need for a prospectus. This expedited process reduces listing fees and minimises the resource requirements typically associated with for a new or dual issuance.
“Companies listed on Euronext can now easily access the South African market through this streamlined process, helping them to tap into new pools of capital and widen their investor base. In our mission to be a market convener, this approach is part of our ongoing efforts to enhance accessibility for international companies,” says Maurice Madiba, Head Primary Markets at the JSE.
The process allows Euronext-listed companies that have been operating for a minimum of 18 months to seek a listing on the JSE Main Board or AltX Board without the need for a prospectus, but rather with a pre-listing announcement. This framework ensures that investors have access to relevant information about the company in order for them to still make informed investment decisions. This initiative further streamlines the dual-listing process, leveraging the extensive market information available for these companies in their primary markets.
“Dual listings can improve liquidity for companies by allowing their shares to be traded on multiple exchanges. This can lead to better price discovery. A major advantage to the being part of the fast-track universe is that we can reduce the overall regulatory burden, ideally facilitating more secondary listings in South Africa,” concludes, Madiba.
Since the establishment of the fast-track listing route in 2014, the JSE has raised over EUR 49bn, provided 131 listings (59 of which were international), and raised EUR12bn by inward listed companies.
Earlier this year, the JSE announced it would continue to expand its secondary listing framework – adding Euronext and Saudi Exchange, Tadawul, to its list of approved and accredited exchanges – alongside a series of Market Segmentation reforms.
ENDS
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself on being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.
The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 135 years. As a leading global exchange, the JSE co-creates unlocks value & makes real connections happen.
The JSE takes your privacy seriously in accordance with the POPI Act. We endeavour to only send you relevant information that we think will be of interest to you and the media title you work at. No action is required if you are happy to continue receiving JSE news and information. Should you change your mind at any time in the future, please do let us know. If you do not wish to receive JSE news and information, please respond to this email and we will remove you from future distributions.
JSE general enquiries: Email: [email protected] Tel: 011 520 7000 |
JSE media contact: Paballo Makhetha Communication Specialist Tel: 011 520 7331 | Mobile: 066 261 7405 Email: [email protected] |