The shareholders of the Johannesburg Stock Exchange (JSE) have voted in favour of a management proposal to list the exchange on itself. The listing is expected to take place on 5 June 2006. The JSE, which de-mutualised last year, currently has a market capitalisation of approximately ZAR 2billion. In order to meet the JSE requirement for a minimum number of shares (25 million), the JSE shares will be divided by 10, resulting in more than 83 million shares being in issue at the time of the listing. The JSE does not intend to raise additional capital through the listing. “However, the listing will enable the JSE to do this should the need arise in the future,” notes a spokesman for Standard Bank of South Africa in Johannesburg.
Johannesburg Stock Exchange To List Itself
The shareholders of the Johannesburg Stock Exchange (JSE) have voted in favour of a management proposal to list the exchange on itself. The listing is expected to take place on 5 June 2006. The JSE, which de mutualised last year,
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