{"id":9577,"date":"2012-04-03T03:47:18","date_gmt":"2012-04-03T01:47:18","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africas-jse-to-scrap-africa-board\/"},"modified":"2012-04-03T03:47:18","modified_gmt":"2012-04-03T01:47:18","slug":"s-africas-jse-to-scrap-africa-board","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-jse-to-scrap-africa-board\/","title":{"rendered":"S.Africa&#8217;s JSE to scrap Africa board"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, April 2<\/span> (Reuters) &#8211; The Johannesburg Stock<br \/>\nExchange is scrapping its separate board for sub-Saharan<br \/>\ncompanies, after the three-year programme met with lacklustre<br \/>\ndemand from African firms more interested in listing in London.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The JSE Ltd, which operates Africa&#8217;s biggest<br \/>\nbourse, said on Monday it will now place sub-Saharan corporates<br \/>\ndirectly onto its main board, or its AltX for smaller companies.<\/p>\n<p><span><\/span><\/p>\n<p>Previously companies on the African board were cordoned off<br \/>\nfrom their South African rivals and did not appear in indexes<br \/>\nbased on individual industries.<\/p>\n<p><span><\/span><\/p>\n<p>Launched in 2009, the Africa board failed to gain traction<br \/>\namong sub-Saharan corporates, bringing in just two companies. In<br \/>\ntotal about 20 African firms are listed on the JSE.<\/p>\n<p><span><\/span><\/p>\n<p>The JSE is aiming to position itself as a gateway to<br \/>\nAfrica&#8217;s fast growing capital markets, but bankers say it faces<br \/>\na tough battle from London, which is seen as a more prestigious<br \/>\ndestination.<\/p>\n<p><span><\/span><\/p>\n<p>More than 100 African companies are currently listed on the<br \/>\nLondon Stock Exchange, with the majority of those on the<br \/>\nAIM market for smaller firms. Their combined market value is now<br \/>\nbigger than every African exchange except Johannesburg.<\/p>\n<p><span><\/span><\/p>\n<p>Separately, South African direct marketing retailer<br \/>\nHomeChoice said it plans to list on the Johannesburg bourse in<br \/>\nthe second half of this year.<\/p>\n<p><span><\/span><\/p>\n<p>HomeChoice, which sells homewares and personal loans, said<br \/>\nthe listing would help it raise money to fund expansion.<\/p>\n<p><span><\/span><\/p>\n<p>The company reported earnings per share rose 34.7 percent to<br \/>\n237.4 cents in year to end December on sales totalling 1.1<br \/>\nbillion rand ($143.33 million).\t<\/p>\n<p> (Reporting by David Dolan and Tiisetso Motsoeneng, editing by<br \/>\nEd Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, April 2 (Reuters) &#8211; The Johannesburg Stock Exchange is scrapping its separate board for sub-Saharan companies, after the three-year programme met with lacklustre demand from African firms more interested in listing in London. The JSE Ltd, which operates Africa&#8217;s biggest bourse, said on Monday it will now place sub-Saharan corporates directly onto its main [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9577","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9577"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9577\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}