Private investment platform, Altvest Capital Limited, has joined the Johannesburg Stock Exchange (JSE) as part of its bid to boost liquidity, listing today on the Alternative Exchange (AltX) Board.
“At the heart of Altvest Capital’s mission is the goal of bridging the financial accessibility gap by funding South African Small and Medium Enterprises (SMEs) through debt and equity instruments. We seek to raise this debt and equity by designing investment instruments that are accessible to retail and institutional investors on the same terms, conditions and price. Listing on the JSE is a strategic move that will help us reach more investors and enhance these investment and funding opportunities for all,” said Warren Wheatley, CEO of Altvest Capital.
The company is transferring its listing from the Cape Town Stock Exchange to the JSE’s AltX Board. Altvest is one of South Africa’s more recently established investment holding companies, providing a variety of asset classes spanning private equity and property. Future projects will include, venture capital, renewable energy, sustainable agriculture and block-chain led projects. By listing on the JSE, Altvest can tap into a broader investor base, facilitating capital raising and improving the company’s ability to finance growth initiatives.
“Small and medium enterprises are essential to growing South Africa’s economy, and the JSE’s AltX Board is a springboard for SME growth. We welcome Altvest and other companies looking to enable growth and access greater liquidity, broader market reach and a deeper investor pool,” said Valdene Reddy Director of Capital Markets at the JSE.
Altvest will list:
- 1 million ordinary shares with an issue price of 650c each
- 3, 924, 674 Preferred an Ordinary Shares at 180c each
- 718, 844 Preferred B Ordinary Shares at 1100c each
- 29, 833, 894 Preferred C Ordinary Shares at 320c each.
"The JSE has seen its strongest listings pipeline in five years. Despite a challenging financial environment, the number of listings has grown. This growth reflects the efficacy of the exchange’s efforts in creating an enabling environment, including recent regulatory reforms, the JSE's ability to support emerging sectors and a positive outlook for our capital markets," said Reddy. “We have seen incredible activity this year and a positive market reaction to the latest listings of WeBuyCars, Rainbow Chicken and Cilo Cybin.”
Altvest is joining other Diversified Financial Services entities, a category that helps to diversify investment opportunities in new sectors and asset classes. Today’s listing increases the number of listed companies to 279 with a market capitalisation exceeding R19 .7trillion.
