Global Asset Management listed on the JSE’s junior AltX exchange at R2.10 a share on Friday.

The firm, which focuses on project, structured and asset finance, began trade with a market capitalisation of R70 million.

Chief executive Niels Penzhom said the listing was part of a strategy to become the financing partner and investment vehicle of choice for investors and entrepreneurs.

“We aim to generate long-term wealth by focusing on sustainable growth and income generating opportunities within the southern African region,” he said. Shares closed at R2.12 on Friday. – Asha Speckman