Africa Bitcoin Corporation (ABC), the South Africa-based Bitcoin treasury and SME financing firm, has applied to transfer its listing from South Africa’s Alternative Exchange (AltX), a board for smaller companies, to the Johannesburg Stock Exchange’s (JSE) Main Board.
The transfer will move all of the company’s share classes, including its ordinary shares and preferred A, B, and C shares, to the JSE Main Board under the exchange’s General Segment classification, the company said in a statement on Monday. The JSE has approved the move set to take effect on Friday, May 22.
The move is the latest step in Africa Bitcoin Corporation’s multi-exchange expansion across Africa, as it seeks to bring Bitcoin exposure to institutional investors through publicly traded stock exchanges.
Questco Corporate Advisory Proprietary Limited, a South Africa-based advisory firm which previously acted as the company’s designated advisor, will become its JSE sponsor from the transfer date.
In March, Africa Bitcoin Corporation completed a 3-for-1 share split and issued up to 22.9 million new ordinary shares to meet the minimum share capital requirements for a Main Board listing and additional international listings.
