RE: JSE listing25 Mar 2021 22:30
A good question to which no one has an answer .. we will just have to wait and see.
Only two possibilities though really
1. Bushy purchases (notionally or otherwise) LSE stock, dissolves it and transfers an equal value onto new JSE shares - the total enterprise value stays the same. (or something very similar)
2. Printing new shares on JSE. This is essentially a dilution.
Out of the two, strangely, I rather favour (2). It would essentially be a fund raise that can be used at a time working capital in great quantity might well be needed as first rollouts of VFRBs and corporate expansion is done. Ultimately can be returned to shareholders as divided at some point if that works out.
May well all be tosh and FM has a different plan more cunning than Baldrick with a Turnip, but the sooner it is done and tied to a move off AIM onto the main FTSE the better for us all