Vunani’s on the move, and it’s only looking up
Financial services firm's JSE move is a sign it intends raising its public profile and attracting new investors
Small-cap financial services firm Vunani has shown this month that it has dreams of bigger things.
The company, whose market capitalisation of just R403m ranks it well below SA’s 100 largest listed firms, has asked the JSE if it can move from the bourse’s alternative exchange – which houses small-caps – to the main board. It will also list its shares on rival exchange A2X, which is growing in stature with its 26 secondary listings.
Vunani’s recent moves indicate that the black-owned financial services group, which was started in the late 1990s, is intent on raising its public profile and attracting new investors. The company has grown since its 2007 listing – it has offices in Johannesburg, Cape Town, Harare, Lusaka, Mbabane and Blantyre – but it remains tiny compared with the incumbents. Perhaps an enhanced profile within SA’s public markets will help it scale faster...