4Sight, a multinational diversified technology group, becomes the first Altx company to transfer its listing to the Main Board General Segment.
4Sight also becomes the first company to transition from AltX to the General Segment since the Financial Sector Conduct Authority (FSCA) approved amendments to the Listings Requirements as part of the JSE’s Market Segmentation Project in September 2024.
This initiative repositioned the Main Board into two distinct segments – Prime and General – providing a tailored level of regulation that aligns with the size and liquidity of issuers.
Since the introduction of the General Segment last year, 22 companies from the Main Board have transition to this segment. This shift highlights the segment’s attractiveness and the JSE’s dedication to offering a flexible and supportive regulatory environment. The tailored approach of the General Segment allows companies to benefit from regulations that match their size and liquidity, promoting growth in the market.
“The successful transition of 4Sight from AltX to the Main Board demonstrates the effectiveness of the Market Segmentation Project in creating a pathway for companies to grow and graduate as they expand their operations and strengthen their market position. This framework ensures that companies of varying sizes and liquidity profiles can thrive within a structure that supports their specific needs while maintaining the integrity of the market,” says Valdene Reddy, Director: capital markets at the JSE.
The move to the Main Board offers 4Sight increases credibility and access to broader market opportunities. As part of its classification in the General Segment, the company can now apply an automatic annual rolling general authority to issue shares for cash, representing up to 10% of its issued share capital, without requiring shareholders’ approval.
The company will trade under the JSE code “4SI,” with more than 534 million ordinary shares in issue.
“This is a proud moment for 4Sight Holdings,” said Tertius Zitzke, group CEO of 4Sight Holdings. “The Main Board listing enhances our credibility and solidifies our position in the technology sector. This achievement not only showcases our company’s resilience but also affirms our commitment to providing exceptional worth to our stakeholders.”