Africa Bitcoin Corporation has applied to move its listing from the Alternative Exchange (AltX) to the Main Board of the Johannesburg Stock Exchange, in a step that signals its growing ambitions across public markets in Africa and beyond.
The transfer, approved by the JSE and set to take effect on Friday, May 22, will see all of the company’s share classes including ordinary shares and its A, B, and C preference shares shift to the Main Board under the exchange’s General Segment classification, the company said in a statement on Monday.
As part of the transition, Questco Corporate Advisory Proprietary Limited will take on the role of JSE sponsor from the effective date, replacing its previous position as designated advisor.
The move is the latest in ABC’s broader strategy to expand its presence across multiple exchanges, as it positions itself as a listed vehicle offering Bitcoin exposure to institutional investors.
To meet Main Board requirements, the company carried out a 3-for-1 share split in March and issued up to 22.9 million additional ordinary shares. The adjustments were aimed at satisfying the minimum capital and liquidity thresholds required for larger listings.
Under JSE rules, companies must have at least 25 million issued shares and meet specific financial benchmarks, either through profitability or net asset value. ABC met the profit requirement in its financial year ended February 2025, reporting a R47.9 million ($2.9 million) profit, driven largely by an R86.2 million ($5.2 million) fair value gain linked to its Altvest Credit Opportunities Fund, its SME lending arm, rather than core operational earnings.
At the time of meeting these criteria, the company had just over 11 million ordinary shares in issue below the Main Board minimum prompting the additional share issuance.
The upgrade to the Main Board also gives the company greater operational flexibility under JSE regulations. It will be able to issue shares for cash without shareholder approval, provided such issuances remain below 10% of its issued share capital. It will also have more flexibility to repurchase shares and will no longer be required to publish condensed financial results within three months of its financial year-end.
Africa Bitcoin Corporation currently holds five Bitcoin in its reserves and has previously outlined plans to raise up to $210 million to build a larger Bitcoin treasury, following a model popularised by firms such as Strategy in the United States.
The company is already listed on the Namibian Stock Exchange and the OTCQB Venture Market in the United States, and also trades on several German retail platforms including Börse Frankfurt, Tradegate, and Lang & Schwarz.
In October 2025, CEO Warren Wheatley and Executive Chairman Stafford Masie said the company was exploring additional listings across Africa including Botswana and Kenya as well as in London.
As a Bitcoin treasury firm, ABC raises capital through equity issuance, converts proceeds into Bitcoin, and gives investors indirect exposure to the cryptocurrency through its publicly traded shares.
The structure also allows the company to reach investors in markets where direct crypto trading is restricted, offering a regulated pathway to Bitcoin exposure through traditional stock exchanges.
