South Africa’s JSE now enables ‘fast-track’ listings from Hong Kong
The Johannesburg Stock Exchange (JSE) has expanded its secondary listings framework to include companies primarily listed on the Hong Kong Exchanges and Clearing Ltd (HKEX). Under this strategic move, companies listed on HKEX can now pursue secondary listings on the JSE, and they qualify for a fast-track listing process.
The fast-track listing process is designed for HKEX-listed companies with a minimum operational history of 18 months. These companies can seek a listing on the JSE Main Board or Alternative Exchange without the requirement of a pre-listing statement; instead, they can proceed with a pre-listing announcement.
Despite this streamlined approach, the framework ensures that investors have access to pertinent information about the company, facilitating well-informed investment decisions. This initiative aims to simplify the dual-listing process by leveraging the wealth of market information available for these companies in their primary markets.
Dual listings play a crucial role in any stock market, providing local investors with a broader array of investment opportunities while bolstering market liquidity and global significance. The JSE's fast-track listing route, implemented in 2014, stands as a valuable mechanism offering an accelerated approval process, reduced listing fees, and a streamlined approach that minimizes the resource demands typically associated with a pre-listing statement. This strategy is integral to the JSE's ongoing commitment to improving accessibility and efficiency for international companies seeking listings. With this recent expansion, HKEX now joins an esteemed cohort of global exchanges that are recognized for their fast-track processes. Notable members of this group include the London Stock Exchange, Australian Securities Exchange, New York Stock Exchange, Toronto Stock Exchange, and the Singapore Stock Exchange. This collective recognition underscores the JSE's commitment to providing an efficient and attractive platform for international companies looking to expand their listings.