The Johannesburg Stock Exchange (JSE) marks the 10th year anniversary of AltX, the exchange’s board for fast-growing small and medium enterprises.
Since inception, 106 companies have listed while 22 companies have subsequently migrated to the JSE’s Main Board.
The top three sectors by market cap are:
- Basic materials
These constitute 91% of the overall market cap. AltX has a market capitalisation of R15.4 billion with 60 companies currently listed.
Why the AltX?
Nicole Cheyne, client relationship manager for AltX explains, “Ten years on we believe that AltX is even more relevant today as South Africa desperately needs to grow small businesses to create employment. AltX provides smaller companies not yet able to list on the Main Board with a clear growth path and access to capital.
“That a number of companies have grown sufficiently to qualify for migration to the Main Board is testimony to AltX clearly meeting its objectives.”