New listing refreshes BSE

Imara chief executive officer, Gregory Matsake, said the listing will cheer the local bourse, which has not had a listing in the recent past. This is the first equity listing for 2014.

The BSE has listed three bonds and an Exchange Traded Fund (ETF) this year. “As a fledgling exchange, the BSE needs as many listings as it can get so as to grow. This listing is yet another addition to the growing list of opportunities that are available in the market,” he said. Matsake, however, indicated that Magnum, which has a primary listing on the Australian Securities Exchange (ASX), does not have to migrate the shares to the BSE, explaining that since dual listed shares are freely fungible and transferable, there is always an arrangement put in place to facilitate cross-border share movements.