ARC Investments lists on JSE
Investment company African Rainbow Capital (ARC) Investments on Thursday listed on the speciality finance sector on the main board of the JSE, with shares opening trade at R8.68 apiece.
The listing reflects the progress of transformation in the financial services sector, said JSE Capital Markets director Donna Nemer.
“The JSE is proud to be able to aid in ARC’s growth and provide the company with access to deep pools of capital,” she noted.
ARC chairperson Patrice Motsepe said the listing would help the investment company build its brand as a “world-class broad-based black-controlled investment entity for all South Africans.”
“[All] South Africans can work together, not just to build world-class companies but also to create jobs and express our confidence in the economy. Despite our political challenges, this country has the most entrepreneurial, hard working people. That gives us confidence,” he said.
Shareholders will invest alongside ARC in its initial portfolio which comprises 16 investments in the financial services sector and 17 non-financial services investments.
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