Issuers

Overview

4AX seeks to attract equity listings from qualifying issuers with an initial focus on companies with a market capitalisation of up to R8 billion. The listing of various products (for example exchange traded funds), debt instruments and structured notes will be introduced in the near future.

The 4AX listing requirements for equities has been uniquely designed to introduce new types of listings and facilitate much needed growth in the mid-market sector through, amongst others, the following features:

  • Meet the needs of the mid-market sector through the removal of various obstacles previously faced
  • Facilitate acquisitions and growth using listed shares as acquisition currency by reducing associated red tape and costs and increasing speed to market and ability to execute
  • Promote “shareholders democracy” by allowing shareholders to set certain key clear listing requirement thresholds, suitable for that Issuer, which is regulated by 4AX
  • Allow for new issuers with less than a three-year trading history to be listed (i.e. the listing of a bankable company or new project e.g. the equity portion of renewable energy projects)
  • Allow for the listing of qualifying “N-Shares” or companies with a “voting” share models to promote the listing of e.g. private equity funds and/or established entrepreneurs whom investors would like to follow
  • Promote the listing of BEE schemes and investment holding companies and
  • Reduced spread requirements if the listing serves a proper business purpose

For more information, please feel free to contact 4AX or send a request to info@4ax.co.za.