JSE honours its ‘stalwart’ companies

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    23 April 2008

    The JSE has honoured 19 South African companies that have been listed on the exchange for 40 years and more, stating that those companies have helped position the JSE as a world-class stock exchange.

    “The exchange has operated for 121 years and throughout this time has formed solid relationships with several prestigious organisations,” said JSE chief executive Russell Loubser at a luncheon in Sandton, Johannesburg, last Friday.

    The JSE, which ranks among the top 20 stock exchanges worldwide in terms of market capitalisation, was originally established as the Johannesburg Stock Exchange in November 1887 to raise capital for mining operations following the discovery of gold in the Witwatersrand a year earlier.

    Companies that have been listed for 40 years and longer include DRDGOLD, African and Overseas Enterprises, Caxton and CTP Publishers and Printers, Crookes Brothers, Dorbyl Metair Investments, Murray & Roberts, Reunert, Assore, ELB Group, Harmony Gold Mining, Masonite (Africa), Mr Price Group, Hwange Colliery, Trencor, Tongaat Hulett, Avusa, Liberty Group, Palabora Mining, African Oxygen, Santam and AECI.

    “We are very proud to have played a role in the success of these companies, many of whom are giants in their sectors, and wish them great prosperity in for the future,” he said.

    Business Day reported last week that the 19 companies had a combined market capitalisation of R161-billion, or an average of R8.5-billion, with three companies worth more than R20-billion each. They are Harmony Gold (R37.9-billion), Liberty Group (23.1-billion) and Assore (R21.8-billion).

    “The presence of these reputable companies helped position the JSE as a world-class stock exchange associated with high market integrity, efficiency and sound practices,” said Loubser. “We look forward to many more fruitful years working together.”

    In addition to its stock exchange, the JSE has created over markets over the past decade to meet the specific needs of investors, including Africa’s most active agricultural derivatives market, and an interest rate exchange, Yield-X, which was the first of its kind in the world for trading both the cash spot bond as well as interest rate derivative products on one trading platform.

    The JSE also launched a currency futures market last year, allowing individuals to trade in the currency futures market through a regulated exchange for the first time in South Africa.

    SAinfo reporter

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