The JSE announced yesterday that it would buy a 74.85 percent stake in Link SA for R224 million from Link Market Services Limited, a company incorporated in Australia. The JSE said Link SA’s black economic empowerment (BEE) partner would retain its 25.15 percent stake in the company.
It said Link SA’s chief executive, Iqbal Haniff, would retain his position and the company would retain its level 2 BEE rating post the transaction.
“The proposed transaction supports the JSE’s strategy to strengthen its relationships with its issuers and to grow sustainably across the issuer services value chain,” the JSE said.
Link SA is the second largest share register business in South Africa and has a client base that includes six of the top 40 issuers.