Term: ALT-X

Alt-X is a market for small to medium companies in the growth phase. The listing requirements are less stringent than those of the Main Board of the JSE. The Alt-X has basically taken over the role of the Venture Capital Market and Development Capital Market as the place where smaller companies’ shares can be listed and traded. In practice, a small company usually begins its life as a listed company on the Alt-X and then progresses to the Main Board when it is large enough to meet the requirements. To list on the Alt-X a company must have at least 100 shareholders, a 10% shareholder spread and R2m in share capital. Alt-X companies are obviously higher risk than those listed on the main board. But it also often contains the secondary and blue chip stocks of the future. If you want to invest in an Alt-X company take the time and trouble to visit the company and speak to the CEO if possible. You will learn much more from that than studying it’s financials. The detailed requirements for an Alt-X listing can be found at:


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