JSE breaks record with the launch of largest ever IPO

In the largest IPO in South African history, the Johannesburg Stock Exchange (JSE) has launched South Africa's first exchange-traded fund. The SATRIX 40 will invest in the ALSI 40, the exchange's top 40 companies by market cap. JSE hopes this product will increase the liquidity of the JSE and encourage further investment. Also, it should make it easy and relatively risk-free for a foreign investor to get exposure to the South African market. Russell Loubser, executive president of the JSE, said: "A liquid index-tracking security is going to make the lives of foreign investors wanting ov...