Independent Media executive chairman Dr Iqbal Survé

Cape Town - Sagamartha Technologies will consider alternative listing options in the wake of their non-listing on JSE.

Sekunjalo chairman Dr Iqbal Survé said in an interview with the SABC.

Survé says that the campaign to thwart the listing by competitors was "anti-transformation".

He said that the management team at Sagamartha were highly skilled and brought a wealth of experience to the table.

Survé says that his support of broad-based black participation in the economy "scared the crap" out of certain established interests in South Africa.

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"They (established interests) don't like wealthy black people that are independent," says Survé.

"This is about defending our democracy. I will never allow them to intimidate me or our group of companies," he added.