- AltX
AltX is an alternative public equity exchange for small and medium sized companies in
South Africa operated in parallel with theJSE Securities Exchange . As of July 2008 the shares of just over 80 companies listed on AltX had a combined value of over R30-billion. [Financial Mail]History
The exchanged launched in October 2003 [Business Report(1)] as a nursery for the JSE main board, replacing the failed venture capital and development capital boards established as sub-sets of the main board in the 1980s. [Business Report(2)] It was intended to encourage entrepreneurship, especially among South Africa's emerging black middle class. [New York Times]
The first listings, were those of Beige Holdings Limited and Insurance Outsourcing Managers' Holding Limited in January 2004. [Sapa via SABCnews.com]
Listing requirements and process
AltX rules require designated corporate advisers to recommend a company – assuming both financial risk and risk to reputation – before an application to list will be entertained. [Business Report(3)]
Notes
References
*cite web
url=http://free.financialmail.co.za/08/0725/moneyinvest/dmoney.htm
title=Into the mainstream
publisher=Financial Mail
accessdate=5 August
accessyear=2008*cite web
url=http://www.busrep.co.za/index.php?fSectionId=561&fArticleId=302707
title=Lonely heart AltX finally has a suitor
publisher=Business Report
accessdate=5 August
accessyear=2008*cite web
url=http://www.busrep.co.za/index.php?fSectionId=564&fArticleId=188898
title=AltX won't be a graveyard for JSE dead ducks
publisher=Business Report
accessdate=5 August
accessyear=2008*cite web
url=http://www.busrep.co.za/index.php?fSectionId=553&fArticleId=269350
title=AltX will need less spin to make it fly
publisher=Business Report
accessdate=5 August
accessyear=2008*cite web
url=http://query.nytimes.com/gst/fullpage.html?res=940DE5DE1630F930A15750C0A9629C8B63&sec=&spon=&pagewanted=1
title=South African Board Tries to Attract Listings and Interest
publisher=New York Times
accessdate=5 August
accessyear=2008*cite web
url=http://www.sabcnews.com/economy/business/0,2172,72949,00.html
title=First two companies list on AltX
puliblisher=Sapa via SABCnews.com
accessdate=5 August
accessyear=2008External links
* [http://www.altx.co.za/ AltX website]
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