Advertise Here
Icon

Directory

IconActuaries
IconAdministration Outsourcing
IconAsset Managers
IconAssociations & Institutes
IconAuditors
IconBanking
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconCurrencies
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconInvestment Consulting
IconInvestment Fund Managers
IconLegal
IconLISPs
IconListed Equities
IconOmbud
IconParticipation Bond Managers
IconPolicy Administration
IconPolicy Trading
IconProperty Unit Trusts (PUTS)
IconPublications
IconRegulatory Authorities
IconStock Exchange
IconSurveys and Research
IconTraining Courses & Workshops
IconUnit Trust Fund Managers
IconWellness Programs
Advertise Here
  Subscribe To »

JSE secures major secondary listing from Australia’s Southern Palladium

Published

2022

Wed

08

Jun

In a major boost for the Johannesburg Stock Exchange’s efforts to attract international companies for a secondary listing on the bourse, shares in Australia’s Southern Palladium Limited (Southern Palladium) began trading today.

 

“This listing coincides perfectly with the strong appetite in the market for commodities,” Valdene Reddy, Director of Capital Markets at the JSE.

 

“It is encouraging that through the JSE, Southern Palladium in collaboration with the Bengwenyama community has raised capital to explore for minerals such as palladium, rhodium, platinum and iridium that support the green economy while creating much-needed jobs in the process,” Reddy added.

 

Southern Palladium’s JSE debut comes after the Australia-headquartered company acquired a 70% stake in a South African private company, Miracle Upon Miracle Investments (Pty) Ltd (MUM). Southern Palladium has a primary listing on the Australian Stock Exchange (ASX) and a secondary listing on the JSE.

 

“Southern Palladium offers investors an opportunity to participate in one of the last large, undeveloped Platinum Group Metal deposits on the prolific Eastern Limb of the Bushveld Complex. The flagship project presents relatively low capital intensity at shallow development depths, at a time when a future Green Economy has sparked a significant renewed interest in platinum,” says Johan Odendaal, Managing Director at Southern Palladium.

 

MUM holds 100% of a prospecting right, which permits it to explore for a wide range of minerals such as Platinum-Group metals, gold, nickel, copper and chrome.

 

Under the South African mining legislation, a prospecting right entitles the holder to an exclusive right to prospect for prescribed minerals over a prescribed area of land.

 

Southern Palladium successfully completed a A$19m (R212m) capital raise to finance its exploration programme in Limpopo’s Bushveld Complex.

 

Southern Palladium has floated 89.75 million ordinary shares of which 39.63 million will move onto the SA register, and is trading on the Main Board under the JSE code SDL.

 

The listing of Southern Palladium brings the number of listed companies on the JSE to 313 with an overall market capitalisation of over R20.76 trillion.

 

 
Source: The Johannesburg Stock Exchange (JSE)
 
« Back to previous page Print this page » |
 

Breaking News »

#JSESheInvests2022 contributes to building fearless women investors

The Johannesburg Stock Exchange (JSE) is helping women to take control of their investment journeys by fearlessly building their financial prosperity at this year’s #JSESheInvests 5th annual conference. ...
Read More »

  

FIMBank and Finverity partner to offer global SCF and factoring solutions to mid-market companies

Finverity, the mid-market supply chain finance platform focused on emerging markets, and FIMBank, a leading provider of trade finance, factoring and forfaiting solutions, today announced the launch of a strategic ...
Read More »

  

Satrix lists ETF on the JSE that targets smart cities

South African investors who are looking for an opportunity to invest in smart cities need to look no further following the listing of the Satrix Smart City Infrastructure Feeder Exchange Traded Fund (ETF) on the ...
Read More »

  

Redressing Mine Closure Liability through the ESG lens: Emerging ESG Risks

By Merlita Kennedy, Partner & Tobia Serongoane, Associate from Webber Wentzel   Reducing mine closure liabilities with ESG ...
Read More »

 

More News »

Image

Healthcare »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Put:

Put options are securities that give the holder the option of selling the specified stock. It refers to the right to sell specified stock at a specified price at specified times. A "put" facility on a bond would give the holder the right to repay the loan.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2022. All Rights Reserved.