Chamwe Kaira
Africa Bitcoin Corporation, which is also listed on the Namibia Securities Exchange (NSX), has received approval to move its listing from the Alternative Exchange (AltX) of the Johannesburg Stock Exchange (JSE) to the JSE main board.
The company announced on Monday that the transfer will take effect on 22 May.
The move will include the company’s ordinary shares as well as its preferred A, preferred B and preferred C ordinary shares, which will trade under the JSE’s general segment classification.
Africa Bitcoin Corporation, formerly known as Altvest Capital Limited, said the transfer forms part of its plan to expand its presence on international trading platforms and attract broader investor participation.
The company said an earlier subdivision of its ordinary shares helped it meet the minimum issued share capital requirements needed for larger market segments and exchanges.
Africa Bitcoin Corporation is currently listed on the JSE, A2X, OTCQB, Deutsche Börse and NSX.
On the NSX, the company’s Preferred C Ordinary Shares trade under the code BANC.
Following the transfer, Questco Corporate Advisory Proprietary Limited will move from serving as the company’s designated advisor to acting as its JSE sponsor.
Under the JSE general segment classification, some listing rules will apply differently to the company.
These include exemptions from publishing condensed or summary financial results within three months after the financial year-end, as well as lower shareholder approval requirements for certain share issuances and share repurchases within set limits.
The company said all other applicable JSE listing requirements will still apply.
Cirrus Securities, a member of the NSX, remains the company’s NSX sponsor.
In October last year, Africa Bitcoin Corporation announced a secondary listing of its ordinary shares and class C preferred shares on the NSX together with plans to raise up to N$20 million.
The company said the capital raise would be done through the issue of up to 5 882 353 Class C shares at N$3.40 per share.
According to the company, the funds were intended to support the growth of small and medium enterprises in Namibia and South Africa through flexible lending solutions.
Part of the funding was also meant to strengthen the company’s balance sheet and improve its debt-to-equity ratio to support future borrowing capacity.
