Shares in a new company are set to be traded on the JSE in a couple of weeks, but there are still warning signs for the bourse.
The proposed unbundling was proposed in March and will see Rainbow listed on the Main Board of the JSE.RCL said that the effective date of the unbundling is anticipated to be on or about Monday, 1 July 2024, but the listing of Rainbow will happen on 26 June under the share code RBO.
“The responses shown by Rainbow, particularly in relation to the successful implementation of a change of its chicken breed , which was completed in the current financial year, and improved operational resilience in the face of significant headwinds experienced recently, have considerably demonstrated the benefits achievable from an improved operational base.
Pick n Pay also announced that it will list Boxer by the end of the year as it tries to raise billions to pay off its R6.1 billion debt.However, it should be noted that all three of these listings are unbundling, with investors already having some access to these companies. In terms of new entrants, African Bank and bottling business Coca-Cola Beverages Africa are the only well-known companies that have an Initial Public Offering in the works, but timelines remain vague.
Despite still being comfortably the largest bourse in Africa, the JSE has seen an exodus of companies in recent years, with the number of companies listed more than halving over the last 30 years.Dr Ron Whelan unpacks the future of South Africa’s healthcare industry
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