PSG Konsult set to make debut on JSE
09 June 2014
Francois Gouws, PSG Konsult
Francois Gouws, PSG Konsult CEO.
PSG Konsult, the 16-year old financial services provider and the largest independent advisory network in South Africa, is set to make its debut in the financial services sector on the JSE on Wednesday, 18 June 2014. This was announced today.
This follows approval by the JSE for the listing of just more than 1.2 billion PSG Konsult ordinary shares as ‘PSG KST’ with share code ‘KST’. The shares have been trading over-the-counter since 2005 with a share price of up to 745 cents per share on the last day of trading on Friday, 30 May 2014. The over-the-counter share trading platform was closed on this day to facilitate the dematerialisation process.
PSG Konsult CEO, Francois Gouws, confirmed it does not intend to raise capital leading up to the listing. "Our objective is rather to build a track record with both equity and debt investors in order to give maximum optionality to enable us to execute on our long-term strategic plans.
"We also want to provide shareholders with a liquid, tradeable asset within a regulated environment and with a market-determined share price. This we believe will give the general public an opportunity to acquire an equity stake in PSG Konsult and thereby share in its potential success in future.
"At year-end February 2014 total funds under management amounted to about R112 billion and total funds under administration to approximately R235 billion.
"This stems from 193 offices throughout South Africa and Namibia, with 1 841 employees, of whom 618 are financial planners, portfolio managers, stockbrokers and asset managers, plus a number of professional associates (accountants and attorneys), servicing more than 150 000 clients, as at 28 February 2014,” Gouws said.
PSG Konsult is structured into three operating divisions - PSG Wealth, PSG Asset Management and PSG Insure. This utilises the synergies between the divisions under a simplified organisational structure to provide a holistic, integrated financial solution to clients.
"We have a three-year strategic plan in place for each of the divisions to ultimately position the group as a fully-fledged financial services business,” Gouws said.
PSG Konsult, which commenced business operations in July 1998, is a subsidiary of listed PSG Group.