PSG Konsult lists on the JSE

The company becomes the 30th financial services company to list on the JSE.

Today the Johannesburg Stock Exchange (JSE) welcomed PSG Konsult (JSE: KST) as the fifth company to list on exchange’s Main Board this year. PSG Konsult becomes the 30th financial services company listed on the JSE; the sector has a total market capitalisation of R215 billion. The company is also the 8th company to list on the JSE this year.

PSG Konsult, a subsidiary of JSE-listed PSG Group, is an independent financial services group with the largest independent advisory network in South Africa operating since 1998. At the end of its financial year in February, the company had approximately R112 billion in funds under management on behalf of investors and R235 billion in assets under administration on behalf of clients. Assets under management are actively managed by PSG Konsult, while assets under administration are beneficially owned by clients and all investment decisions pertaining to these assets are also made by clients. PSG Konsult is structured into three operating divisions: PSG Wealth, PSG Asset Management and PSG Insure.

“We have a three-year strategic plan in place for each of the divisions to ultimately position the group as offering an innovative and unique one-stop integrated service. To remain competitive in the current regulatory and investment environment financial service businesses need to offer superior products and must prioritise transparency, fairness and consumer empowerment,” says Francois Gouws, CEO of PSG Konsult.

Gouws says the company is not seeking to raise capital through listing, but hopes that coming to market will raise its profile and also provide shareholders with a liquid, tradable asset within a regulated environment and with a market-determined share price.

“The JSE is excited to welcome a company from the PSG Group stable onto the market. South Africa’s highly developed financial services sector is a major contributor to our economic growth and we are proud to play a part in assisting companies in this sector to raise their profiles and expand their businesses, ” says Zeona Jacobs, Director Issuer and Investor Relations at the JSE.