The JSE Securities Exchange South Africa (JSE) has announced that Investec Corporate Finance will be the first adviser to select small- and medium-size enterprises (SMEs) to list at a new alternative exchange this year. The SMEs will list at Africa's first Alternative Exchange (AltX) due to open for trading in October this year. AltX is poised to offer new opportunities to issue new shares, raise funds, widen investor base and trade shares on a regulated market to a myriad of companies, especially Black Economic Empowerment (BEE) ones.
The Department of Trade and Industry has endorsed the new market for SMEs.
