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The Johannesburg Stock Exchange is pleased to welcome NVest Financial Holdings Limited (“NVest”) onto the AltX board following a successful private placement. NVest will list in the Financial Services sector of the AltX board.
Nvest’s listing makes it the 7th company to list on the JSE this year and the 3rd company to list on the AltX board in 2015.
NVest is an integrated financial services holding company with assets under management and administration of over R13 billion. NVest companies include NFB Private Wealth Management, NVest Securities, NFB Insurance Brokers, Independent Executor & Trust and the NVest Properties. Established in 1985 in the Eastern Cape, the company now seeks to increase its reach beyond the region to raise its public profile and increase the liquidity of its shares through a listing on the AltX.
Commenting on the listing, JSE head of Capital Markets Donna Oosthuyse says, “We wish to congratulate NVest on their listing today. The listing of NVest is a natural progression for NVest and we are pleased that the company has chosen the JSE as an enabler of its future growth ambitions.”
NVest CEO Anthony Denis Godwin says, “We have an opportunity to take a business which started 30-years ago in the Eastern Cape to the South African market and grow it into a brand recognised throughout the country. Today’s listing provides NVest with a growth platform and offers our employees real ownership and incentive opportunities for our top performers and key staff.”
The AltX provides smaller companies with access to capital while providing investors with exposure to fast-growing smaller companies in a regulated environment. Since its establishment in 2003, more than 100 companies have listed on AltX.
