Outbreak of Optimism in South Africa May Spur IPOs, Bourse Says
- ‘Some good IPOs in the pipeline,’ CEO Newton-King says
- JSE Ltd. had ‘challenging year,’ cut its staff by 24%
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The operator of Johannesburg’s stock exchange expects improved sentiment following Cyril Ramaphosa’s election as South African president to encourage companies to sell shares in initial public offerings this year.
Ramaphosa, who succeeded Jacob Zuma last week, is expected to oversee improved management of Africa’s most-industrialized economy. Bourse operator JSE Ltd., which handled 21 new listings in 2017, could see some of that positivity materialize in IPOs and new exchange-traded funds, Chief Executive Officer Nicky Newton-King said in an interview on Wednesday.