South African JHB sees most IPO’s since 2008

The first quarter of the year has seen exponential reach for the Johannesburg market with three companies including Lodestone and Novus Holdings, both selling stock

 

Johannesburg, South Africa, has seen the most initial public offerings since 2008 as stocks reach new records since the global financial crisis.

According to an article released on Bloomberg, the first quarter of the year has seen exponential reach for the Johannesburg market with three companies including Lodestone and Novus Holdings, both selling stock.

The success can be measured in the numbers with Lodestone rising by 39 percent and Novus gaining 21 percent since going public. The British gym chain, Virgin Active Holdings Ltd., has also announced that it intends to hold an IPO in Johannesburg later this year.

According to Sean Ashton, chief investment officer of Anchor Group:"These companies are successfully able to float on the market because there’s been a roaring bull market, so if they’re a decent company, they’re likely to find support."

In response to the South African record reach, Mark Mobius, executive chairman of Templeton Emerging Markets Group, stated:"South African stocks have started 2015 on a solid note, aided by the recent drop in oil prices.” Johannesburg Stock Exchange

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