South Africa · Governance
How the JSE’s new listings and capital raising changed in 2025
The JSE reported seven IPOs and 856 new bond listings in 2025. It recorded 12 new exchange-traded funds, down from 25 in 2024, and 17 new exchange-traded notes, up from eight.
Sources checked
2024
Shared scale · 0 listings to 29 listings
2025
Shared scale · 0 listings to 29 listings
Switch year to compare IPOs, sustainability bonds, funds, notes and actively managed certificates. All bond listings and capital measures appear in the table.
New bond listings increased while IPOs fell
The exchange reported 856 new bond listings, up from 785, and seven IPOs, down from eight. The sustainability segment recorded 29 new bond listings, one more than the prior year. The total number of bonds listed includes the segment. Source 1
Fund and note listings moved in opposite directions
The exchange listed 12 new exchange-traded funds in 2025 and 17 new exchange-traded notes. In 2024 it listed 25 new funds and eight new notes. Each number counts instruments rather than the amount invested. Source 1
Additional capital raised was lower
The JSE reported ZAR 23.2 billion of additional capital raised in 2025, versus ZAR 103.1 billion in 2024. The figure is reported separately from the number of IPOs and the nominal value of listed bonds. Source 1
The listed bond value measures a stock
The nominal value of listed bonds reached ZAR 5.5 trillion, compared with ZAR 5.0 trillion in 2024. New listing counts measure activity during the year, while this amount describes the value of bonds on the exchange. Source 1