Delisting crisis requires capital markets reform
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South Africa’s capital markets are in a state of existential crisis. And I don’t say that flippantly. Yes, there is a global trend towards fewer listed companies with the rise of private markets but in South Africa the delisting deluge is acute.
25 companies delisted from the JSE in 2021, with just seven new listings in the same period.
This year we are sitting on another 20 delistings and we are scarcely into the second quarter….
We should all encourage the JSE to make itself more attractive to new listings, but we should also consider the negative role played by the policymakers in the National Treasury and the underlying structural concerns raised by Paul Miller recently that points to a playing field favouring large investment institutions over small retail investors.
To discuss this Michael Avery is joined by Leon Campher, outgoing CEO of Asisa, the association for savings and investment SA; Chris Logan of Opportune Investments & David Holland of Fractal Value Advisors
25 companies delisted from the JSE in 2021, with just seven new listings in the same period.
This year we are sitting on another 20 delistings and we are scarcely into the second quarter….
We should all encourage the JSE to make itself more attractive to new listings, but we should also consider the negative role played by the policymakers in the National Treasury and the underlying structural concerns raised by Paul Miller recently that points to a playing field favouring large investment institutions over small retail investors.
To discuss this Michael Avery is joined by Leon Campher, outgoing CEO of Asisa, the association for savings and investment SA; Chris Logan of Opportune Investments & David Holland of Fractal Value Advisors
