The Johannesburg Stock Exchange (JSE) is preparing for a notable year of activity, with secondary listings of two major international companies, Coca-Cola HBC and Canal+, slated for 2026, the bourse’s CEO, Leila Fourie, confirmed Friday.
Coca-Cola HBC, the London-listed Swiss-based bottler, and French media group Canal+ are expected to launch dual listings on the JSE later this year, marking a significant step in broadening the range of global stocks available to South African investors. Secondary listings allow companies to raise their profile and improve liquidity in multiple markets without issuing new shares, offering local investors access to international equities.
Speaking to Reuters, Fourie highlighted the importance of market liquidity and robust price formation as guiding principles before the bourse proceeds with further expansions in trading hours or potential 24/7 operations. “South Africa is assessing the pros and cons of 24-hour trading, and we are engaging our market participants,” she said. “We will only move if our market participants are comfortable with the move.” The JSE is closely monitoring pilot programs in the United States as part of its evaluation.
The secondary listings come at a time when foreign investment in South Africa has shown measurable growth. According to Fourie, foreign ownership of JSE-listed stocks increased from 28 percent at the start of 2025 to 34 percent in early March 2026, reflecting sustained international interest despite global geopolitical tensions. She noted that the ongoing crisis involving Iran could influence the rotation of capital in and out of emerging markets, with the timing and severity of the conflict shaping investor behavior.
Beyond these secondary listings, Fourie emphasized the JSE’s strategic focus on collaboration with other global exchanges rather than pursuing mergers or acquisitions. “Rather than consider any firm corporate actions, we’ve taken an approach to engage with deep centers of liquidity to identify reciprocal service opportunities that we can share,” she said. The bourse has in recent years signed agreements with the Singapore Stock Exchange, Saudi Arabia’s Tadawul, and the New York Stock Exchange, enabling cross-listing facilitation and faster trading arrangements for multinational firms.
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The secondary listings of Coca-Cola HBC and Canal+ are expected to enhance market depth, increase investor options, and strengthen the South African capital market’s integration with global trading networks. Analysts say these moves could also boost confidence among domestic and regional investors, providing additional avenues to diversify portfolios with international equities.
Market observers note that the JSE’s ongoing consultations about extending trading hours and the potential for round-the-clock trading could be transformative if implemented. Such changes would allow investors to respond to global market developments in real time, improve market efficiency, and attract additional international liquidity. However, Fourie stressed that any adjustments will be implemented only when market participants signal readiness, ensuring stability and protecting investor confidence.
While secondary listings and operational changes represent positive steps, Fourie acknowledged that the geopolitical environment remains a critical factor for the exchange’s strategy. “The duration and severity of the Iran crisis will determine how long the rotation out of emerging markets is likely to be,” she said, noting that South Africa had experienced a decisive shift into emerging markets over the past year, a trend expected to continue depending on broader global developments.
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The JSE’s proactive approach to expanding listings, strengthening foreign investment, and evaluating new trading structures underscores its ambition to remain a competitive and resilient financial hub in Africa. By enabling access to international equities such as Coca-Cola HBC and Canal+, the bourse is positioning itself as a gateway for investors seeking exposure to both local and global markets.
