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Definition

<p style="text-align: justify;">A foreign company, <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">listed</span> on the <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">JSE</span> and classified by the <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">South African Reserve Bank</span> (SARB) as foreign for index purposes. These companies can be included in the <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">indices</span>, but at a reduced <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">weight</span>. The <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">JSE</span> does not use their global <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">market capitalisation</span> but would rather use the market capitalisation of <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">shares</span> registered on the SA <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">share register</span> (as maintained by <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">Strate</span>). The best recent example of an inward listing on the JSE is Prosus (PRX) which has its <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">primary listing</span> on the Amsterdam Stock Exchange. Inward listings (as opposed to <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">secondary listings</span>) are only done in countries which have <span class="glossary" style="border-bottom: 1px dotted black; cursor: pointer;">exchange controls</span> like South Africa.</p>