• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Africa’s biggest exchange finally sees its IPO crisis easing

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
49
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Africa’s biggest exchange finally sees its IPO crisis easing

Africa’s biggest bourse, the Johannesburg Stock Exchange, is slowly turning the tide from a wave of delistings to companies once again considering initial public offerings.

Bankers cited potential interest rate cuts, South Africa’s upcoming election and the country’s plans to alleviate rolling blackouts among factors for the revival. JPMorgan Chase & Co. said the bank was seeing more companies preparing to come to market in Johannesburg.

“We are seeing a significant increase in capital market activity in 2024 and the pipeline for 2025 is also looking strong,” said Edward Bell, JPMorgan’s Johannesburg-based managing director. “This compares to the last two years of very muted activity, not just on the continent, but globally.”

The JSE saw just two IPOs last year, according to data compiled by Bloomberg. And while it saw 11 delistings in 2023, the trend appears to be slowing this year with two delistings so far. JSE Chief Executive Officer Leila Fourie anticipates as many as 10 listings in 2024. “We are optimistic it is looking better, but we’re cautiously optimistic,” she said.

South Africa has entered the new year more optimistically after years of underconfidence in its economic recovery, exemplified by a wave of delistings from the JSE. Inflation is easing and growth expectations have doubled – albeit from a low base – and crippling power cuts are expected to ease within the next two years.

Africa’s most-industrialized economy will also hold its most important election since the dawn of its democracy 30 years ago, with the ruling African National Congress expected to lose some support.

RelatedPosts

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

“Foreign capital is watching the 2024 elections carefully,” said Goldman Sachs Group Inc.’s Chief Executive Officer for South Africa Simon Denny. “A combination of a stable election outcome, declining interest rates and more certainty around energy security should be very positive for our equity market.”

Companies are mostly planning spinoffs and carveouts in the next few months as part of their listing plans, bankers said. Conglomerates want to unlock value from profitable subsidiaries by unbundling them, raising capital and deleveraging stretched balance sheets, said Stephen Nyakudarika, investment banking advisory and origination director for Deutsche Bank AG.

Cannabis firm Cilo Cybin Holdings Ltd. revived IPO plans this month, Transaction Capital plans to unbundle its WeBuyCars unit in April, Pick n Pay Stores Ltd. has plans to spin off its discount supermarket chain Boxer, and RCL Foods Ltd. will spin out its Rainbow Chicken business.

One of the more highly anticipated listings is Coca-Cola Beverages Africa, on ice for three years due to unfavorable conditions. The plan is to list on Euronext, with a secondary listing on the JSE. Bloomberg previously reported that the listing could be valued at as much as $8 billion.

“Next year, we expect more traditional IPOs with companies seeking to list with a view to raise permanent capital and as a partial exit mechanism for shareholders,” said Nyakudarika.

The JSE has tried to cut red tape, and now allows secondary listings for companies primarily listed on the Hong Kong Exchanges & Clearing Ltd., said Patrycja Kula-Verster, the bourse’s primary markets business development manager.

JPMorgan’s Bell pointed out that capital markets have returned globally, and typically emerging markets and South Africa follow the US, UK and Europe.

Bankers said interest for IPOs could come from sectors including consumer, resources and industrials, financial services, fintech and digital infrastructure.

Outside of South Africa, other African companies looking to raise equity capital have tended to prefer an offshore listing, typically NYSE, LSE, or Euronext rather than the JSE. That’s down to greater liquidity on those markets, and a larger pool of investors who understand and have investment mandates for emerging markets, said Nyakudarika.

No Result
View All Result

Highlights

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

GLD Posts First Price Gain in September as Market Indices Remain Unchanged

Samba Foods Signs MoU With Unifa Brothers to Revamp Production Lines

Methodist Church Ghana to Launch Connexional Entrepreneurship Programme – Presiding Bishop Asamoah-Gyadu Discloses

Rt. Rev. Emmanuel Ansah Urges Graduates to Embrace Failure as Methodist Church Ghana Outdoors First Cohort of Wesleyan Entrepreneurship School

Trending

Business

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

September 2, 2025

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong...

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

September 2, 2025

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

September 2, 2025

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

September 2, 2025

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.