New Tech Company Makes Johannesburg Stock Exchange Debut
New data technology company 4Sight Holdings made their Johannesburg Stock Exchange debut this week.
Tech company 4Sight Holdings officially listed on the JSE’s Alternative Exchange (AltX) on Thursday, 19 October 2017, according to Businesstech.
The company saw a positive start on the exchange, opening with a share price of around $0.15 per share, before rising slightly to around $0.17 later in the morning.
This is the first new tech listing on the South African bourse in almost three years, according to ITWeb.
The last IT-related tech listing on the South African exchange was services sector company Cartrack in December 2014.
Incorporated in Mauritius, the data technology company refers to itself as “a pioneer in Industry 4.0 technology”, according to Moneyweb.
4Sight is led by co-founder and CEO Antonie van Rensburg, who expressed his delight and listing the company on the JSE.
“We are extremely excited about being part of the formal capital market through the AltX board,” Van Rensburg said, according to IOL.
“We are the first technology company on the market that offers investors the opportunity to directly invest in the fourth industrial revolution, using new technologies such as machine learning, big data and artificial intelligence (AI),” he added.
Johannesburg Stock Exchange debut to raise capital for acquisitions
The company’s aim with the listing is to raise in the region of $23.15 million through new South African investors.
The funding will be used for acquisitions and the incubation of new products in sectors such as retail and healthcare, TechCentral reports.
4Sight Holdings is focused heavily in acquisitions as a strategy, having acquired telecommunications, media and property services company Digitata Mauritius on a share for share basis in June, according to BusinessDay.
Digitata uses big data, machine learning, artificial intelligence, blockchain technology and data science capabilities to indirectly serve more than 60 million consumers in 15 countries, including New Zealand, United Arab Emirates, Canada, the U.S., the U.K., Sweden, France, Spain, Malaysia, Singapore, Mauritius and South Africa.