[South Africa] Mettle Investments joins Johannesburg Stock Exchange JSE AltX board
Mettle Investments, which forms part of JSE's listed Tradehold, has listed in the Speciality Finance sector of the JSE's AltX board.
This is the fifth listing on the JSE this year, and a first on the AltX Board. Currently the AltX board has 49 companies listed, with a total market capitalisation of R14.57 billion.
Mettle Investments is a financial services company with operations in South Africa and the United Kingdom. Mettle Investments' SA operation is a specialist financial services business that provides a range of financing, administration and advisory services for clients ranging from large corporates to small and medium-sized enterprises as well as individuals.
The AltX board was launched 15 years ago and focuses on growing small businesses.
Donna Nemer, Director of Capital Markets at the JSE, says: "The JSE is pleased to welcome Mettle Investments to the AltX Board, a platform specifically designed to enable small to medium sized entrepreneurial businesses to profile themselves not only to local but also international investors and customers. There are several stumbling blocks for SMEs, one such obstacle is access to working capital, and this is where a listing on AltX can be an exciting opportunity for smaller businesses to raise capital, as companies have access to a wide range of investors and they can operate in an environment regulated by a world-renowned stock exchange."
Mettle Investments is primarily invested in a portfolio of specialist lending and related services businesses.
"Companies come to list on the JSE raise capital, for Mettle this listing will provide them with an opportunity to make acquisitions. In addition to its focus on specialised lending, Mettle Investments will look to invest in other growth markets including, but not limited to, renewable energy and financial technology," concludes Nemer.
Mettle was established in 1995 as a specialist financial services company and has, since its inception become recognised for innovation in the creation of specialised financial solutions.
"We believe the alternative lending market has huge potential. As a responsible funder in this market, both in South Africa and the United Kingdom, we are excited to be one of the few entities in this market to be listing and provide investors with an opportunity to participate in this space" said Hendrik Frederik Prinsloo, Chief Executive Officer of Mettle Investments
This listing brings the total number of companies listed in the Speciality Finance sector to 15. Currently, the JSE has 374 companies listed with a total market capitalisation of R14.57 trillion.