AltX debut for tech company 4Sight

Technology company 4Sight Holdings has made its debut on the JSE Alternative Exchange, with the shares closing at 235c.

The stock opened at 210c on Thursday and hit a high of 250c.

The company listed in the nonequity investment instruments sector on AltX, which is aimed at small and mediumsized companies.

4Sight Holdings, which is incorporated in Mauritius, operates in the telecommunications, media and property services industries and uses big data, machine learning, artificial intelligence, blockchain technology and data science capabilities.

4Sight owns 100% of Digitata Mauritius, a machine learning and artificial intelligence firm.

Antonie van Rensburg, the CEO of 4Sight Holdings, said the company was the first technology entity on the market that offered investors the opportunity to directly invest in the Fourth Industrial Revolution using new technologies such as machine learning, big data and artificial intelligence.

In September, 4Sight said it intended to use the proceeds of the listing to settle an amount Digitata owed for acquiring its South African subsidiary, with the rest earmarked for “go-to-market” projects. It is targeting the econometrics, medical sciences, bioinformatics and astrophysics sectors.

4Sight Holdings is the 17th company to list on the JSE in 2017 and the sixth to list on AltX. Five companies are listed in the JSE’s nonequity investment instruments sector.

The sector has total market capitalisation of R2.59bn.

The JSE’s capital markets director, Donna Nemer, said “it is important to the JSE to contribute to creating more opportunities for small and mediumsized companies to raise capital and grow their businesses”.

Nemer said listing on the JSE allowed small and mediumsized companies to tap into large pools of capital while also raising their profile..