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Johannesburg - On Wednesday PSG Konsult [JSE:KST] became the 30th financial services company listed on the JSE.
The sector has a total market capitalisation of R215bn.
The company is also the 8th company to list on the JSE this year and the fifth company to list on the exchange’s Main Board 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 R112bn in funds under management on behalf of investors and R235bn 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," said Francois Gouws, CEO of PSG Konsult.
"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.”
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 sector has a total market capitalisation of R215bn.
The company is also the 8th company to list on the JSE this year and the fifth company to list on the exchange’s Main Board 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 R112bn in funds under management on behalf of investors and R235bn 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," said Francois Gouws, CEO of PSG Konsult.
"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.”
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.
