Cilo Cybin transitions to JSE's Main Board General Segment, unlocks growth potential

CILO Cybin, the Cannabis Special Purpose Acquisition Vehicle (SPAC) that listed on the JSE’s AltX Board in June 2024, transitioned to the Main Board yesterday, where it seeks to pursue additional growth avenues, both organically and through acquisitions.

- EDWARD WEST

The JSÉ said yesterday that the transition from AltX to the Main Board’s General Segment has followed the Financial Sector Conduct Authority's approval of amendments to the Listings Requirements in September 2024, as part of the JSE’s Market Segmentation Project.

These amendments introduced two Main Board segments: Prime and General, designed to align regulatory frameworks with issuers’ size and liquidity.

Since the General Segment's launch last year, over 30 companies have migrated to this segment. This, the JSE said, reflects an appeal by companies seeking to benefit from a regulatory environment that promotes growth by providing more enabling capital raising measures, cost savings, efficient financial reporting, as well as greater flexibility for the company boards to manage the business.