Telecommunications company and ISP, DataPro Group, which had its debut listing on the AltX today, enjoyed what it believes was a "stalwart listing", with its share opening at 63c and closing at 59c. A total of 582 000 shares changed hands.
James Herbst, director responsible for finance at DataPro, said management was satisfied with the day`s trading - and with where the counter ended at the close of the first day`s trading.
"Good volumes were traded and we are satisfied with the levels. At the end of the day it is the investment community which is going to determine the price. We will simply do our job - and that is to run this company well."
At yesterday morning`s opening at the Johannesburg Securities Exchange, Douglas Reed, MD of DataPro, said the company believed it would be one of the star performers on the AltX, saying it had a tested, young and dynamic management team.
"The bulk of our top management has been with us for a number of years. They are in their late twenties or early thirties and many have already been in management positions for a number of years now, so they have the experience. One of the exciting factors of this listing is that the deregulation of the telecommunications industry by the government has effectively increased the market we can compete in 30-fold. This is going to bring us many opportunities."
The company is looking to grow organically as well as by strategic acquisitions.
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