What shareholding requirement is needed for a listing on the Johannesburg Stock Exchange (JSE)?

For a company to be listed on the Johannesburg Stock Exchange (JSE), it is mandated that at least 20% of each class of equity shares be held by the public. This requirement is in place to ensure a sufficient level of public shareholding, which contributes to liquidity and facilitates effective price discovery in the market.

Having 20% of shares held by the public allows for a more diverse investor base, ensuring that the company is not overly concentrated in the hands of a few shareholders. This level of public ownership is essential for fostering investor confidence and promoting market stability. It also reflects compliance with JSE listing rules aimed at maintaining high standards of corporate governance and transparency.

The other options indicate different thresholds that do not align with the established regulations of the JSE, making them incorrect.