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PSG Capital, newly appointed 4AX issuer agent

15 October 2017 – 4 Africa Exchange Proprietary Limited (4AX), one of only two exchanges in South Africa with a full license to trade across asset classes, is pleased to announce that PSG Capital has been appointed as an issuer agent/sponsor to the Exchange.

The 4AX listing requirements for equities have been uniquely designed to introduce new types of listings and facilitate much-needed growth in the mid-market sector.  PSG Capital, a trusted and leading name in corporate finance advisory including listings, joins 4AX as the second approved issuer agent/sponsor to the Exchange.

“We are thrilled to welcome PSG Capital as our newest issuer agent – and we look forward to building a strong and valuable long-term relationship with PSG Capital,” says Fay Mukaddam (above), CEO of 4AX.

The 4AX listing requirements state that every issuer or aspiring applicant which wishes to list on the Exchange must appoint an external or internal issuer agent or sponsor – and an applicant/issuer must have an issuer agent at all times. An issuer agent or sponsor also has an important role to play, as their endorsement of certain securities contributes to increased investor confidence which can influence investment decisions.

“It is therefore important to us that we get the right issuer agents on board, who are underpinned by strong governance principles and share the 4AX ethos; of broadening the local capital market through increased and ease of access, cost-effectiveness and towards contributing to growing financial inclusion in the country, and Africa,” added Mukaddam. “As an authorised issuer agent to the 4AX Exchange, this also offers PSG Capital a unique opportunity to establish themselves in a new market; to broaden their client base, as well as to increase their offering to their existing clients.”

Further to the announcement on the approval and appointment of PSG Capital, 4AX is also pleased to confirm that amendments to its listing requirements – as was submitted to the Financial Services Board (FSB) – have been approved. These approved amendments include a section on REITs.

“We are pleased to have received these approvals and very excited for what these approved amendments mean for our future issuer listings. Currently, we have nine listings in the pipeline; spanning sectors across FMCG, renewable energy, tourism, hospitality, construction, property and engineering. Our journey has begun – and we are fit for purpose, as we aim to open the door for Africa’s best companies, leaders and innovators,” concludes Mukaddam.

 

* 4 Africa Exchange Proprietary Limited (“4AX”) 4AX aims to operate as a truly South African empowered exchange. 4AX will stand as a vehicle for real economic change and opportunity. With transparency, local economic development and affordability at the forefront of this vehicle, we hope to quickly become a force to be reckoned with, whilst positively contributing to the economic growth and financial development of South Africa.
It is against this backdrop that 4AX was founded in 2014 to establish a well-regulated exchange alternative to qualifying issuers and the South African capital markets with the aim of meeting the needs of issuers and investors (i.e. Clients as contemplated in the FMA) who are not served by current incumbent/s or whose needs may be better served by a different exchange infrastructure (which includes Listing Requirements and Exchange Rules which are tailored to meet the needs of the market 4AX wishes to service).