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Understanding the Johannesburg Stock Exchange, Altx, South Africa Inefficiencies: Lessons from the Alternative Investment Market (Aim) in London

Author

Listed:
  • Lebogang Semenya

    (University of Johannesburg, South Africa)

  • Shepherd Dhliwayom

    (University of Johannesburg, South Africa)

Abstract

The study identifies inefficiencies that may be present in the AltX, inhibiting firms from listing on the exchange. The identification of inefficiencies was done through a comparison with AIM (considered the most successful alternative exchange in the world) as well as through interviews with South African AltX listed firms and unlisted SMEs. It was found that once listed, the compliance regulations were onerous, the cost of listing and compliance was high and there is a lack of marketing on the part of AltX. The improvement of these inefficiencies is important in that it may lead to better access of growth capital for SMEs in equity markets. This study makes recommendations that will enable the AltX to improve identified inefficiencies, thereby attract new listings.

Suggested Citation

  • Lebogang Semenya & Shepherd Dhliwayom, 2022. "Understanding the Johannesburg Stock Exchange, Altx, South Africa Inefficiencies: Lessons from the Alternative Investment Market (Aim) in London," ABEM Conference Proceedings, Academy of Business and Emerging Markets (ABEM), Canada, number 023430, July.
    • Handle: RePEc:ris:abemcp:023430
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