JSE currently has around 8,3 million shares trading in the over-the-counter market at 140 to 160 rand each, valuing the group at 1,17 billion rand to 1,33 billion rand.

JSE shares, owned by its broker members, were offered at 200 rand per share in the OTC market by mid-morning - a 20 per cent increase on the stock's closing price of 160 rand on Tuesday.

One trader said the stock could go even higher.

"It is a good share to have, their profits should be good," he added.

The unlisted shares have gained 433 per cent since July last year.

The JSE said it would also implement a share split, dividing each ordinary rand share into 10 at 10 cents each to meet the 25 million-share minimum required for a listed company.

The JSE demutualised in July and has been operating as a publicly unlisted company with all the obligations of a listed firm.

Several exchanges, including world's biggest, the New York Stock Exchange , have listed recently with strong investor appetite.

The JSE is the biggest bourse in Africa.

The bourse, which raised annual basic earnings per share to 1,282.9 cents from 836,5 cents, also said it would conclude a black empowerment transaction to raise black ownership above 10 per cent.

This involves the creation of a fund to help boost the understanding of financial markets among black people and will provide incentives for black investors to retain their shares.

South African firms must sell stakes to black people in line with the empowerment policies intended to foster wider participation in the mainstream economy following decades of exclusion under apartheid.

The JSE increased revenue by 16,3 per cent to 408 million rand mainly due to the strength of the markets operated by the JSE, with 37,6 million rand attributable to increased activity in the equity markets, the JSE said in a statement.

- Nampa-Reuters

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