The share, which closed on the main board as Y3K at 47c on Friday, opened lower at 45c this morning, but rose to 49c early in the morning after four deals in which 12 000 shares changed hands.
The IT security group`s move to AltX is the culmination of a reverse-listing into Y3K, through the acquisition of Information Security Architects and iSecure.
ISA CEO Clifford Katz says the company is positioning itself as a holistic, rather than specialist, security services provider.
The merger brings together iSecure`s expertise in network perimeter intrusion detection, ISA`s network security focus, and Y3K`s desktop security experience.
Katz says the group`s message to the market is that it plans to deliver consistent growth with a conservative overtone.
ISA also plans to match its profits with cash, he says, adding that "this is a philosophy that puts our conservative risk management principles on our shoulder".
Although it is a small company, ISA is understood to have had some good customer wins recently. It also outbid significantly larger competitors to win contracts from some large groups operating in Nigeria.
The group recently issued its figures for the year to February, showing a net profit of R3.19 million on revenue of R31.45 million, a far cry from Y3K`s R135 000 net profit on R9.14 million revenue the previous year.
Director Ryan Price, who turned Y3K from a loss maker to a breakeven situation before the iSecure and ISA acquisitions, says he is very excited about the listing. "We`ve just got to keep it growing from here," he adds.
Analyst Irnest Kaplan, of Kaplan Equity Analysts, says the group was listed in the top three local security services providers in a recent report his company issued on that sector.
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