Michael Avery’s most recent column refers (“Extended trading misses the point”, August 12).
Due to the proliferation of private equity funds, small and medium businesses that could seek capital funding via the JSE will no doubt be able to access these equity funds with far less regulatory burden.
This is not only an SA phenomenon but a global trend. What is peculiar to SA, however, is that due to the effects of the Mining Charter (one of many inhibitors), large-scale mining funding and listings are now dead. If I am not mistaken, mining was the primary reason for the JSE coming into existence in the first place.
Unfortunately for the JSE, due to the distinctly antibusiness environment in SA large companies that would otherwise look to the JSE to fund capex expansion are now awash with cash, and in no need of further equity investment.
Ian Ferguson
Via BusinessLIVE
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