JSE leaves investors in the dark about share repurchases

Business

JSE leaves investors in the dark about share repurchases

Lax JSE rules mean investors have no idea if they are trading shares at the same time as a company is buying

Ann Crotty

Almost every day shareholders invested in JSE-listed companies are reminded of their second-class status when it comes to disclosure standards.

They must surely wonder why companies with primary listings on the JSE are not required to disclose on the Stock Exchange News Service (Sens) about share repurchases (buybacks) undertaken in the previous 24 hours.

JSE requirements on this score are way behind those of leading international exchanges. This is despite share repurchases being an increasingly controversial aspect of a company’s financial management tool bag...

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