JOHANNESBURG - 4 AFRICA Exchange (4AX) is set to get its first listing on September 28, according to sources close to the matter.
4AX confirmed the listing on Thursday next week, saying there would be a briefing to commemorate the exchange’s first issuers listings that would go live on the day, where representatives from 4AX and the issuers would make presentations.
The company declined to give further details. However, well-placed sources revealed that agriculture co-operative firm NKW would be the first to list on the exchange.
Fay Mukaddam, the chief executive, said earlier this month that the exchange, which aims to be easily accessible to the man or woman in the street, wanted to attract new listings through being less regulatory onerous to list on the JSE and cheaper.
4AX’s focus is on equity listings from qualifying issuers with a market capitalisation of above R100million and up to R8billion. 4AX was founded in 2014 as an exchange alternative and commenced operations on March 1 this year.