Global Inward Investment: Canadian-Based Aimia Inc. Lists on the JSE Main Board

Toronto-based Aimia Inc. has officially completed its secondary listing on the JSE, utilizing South Africa’s new fast-track regulatory process to reach local investors.

By: AXL Media

Published: Feb 24, 2026, 8:50 AM EST

Source: Information for this report was sourced from BusinessTech

From Loyalty Programs to Diversified Holdings

Aimia Inc. began its corporate journey as a loyalty services provider, famously originating from Air Canada’s Aeroplan program. Over the last several years, the company has transformed into a diversified conglomerate focused on acquiring controlling stakes in public and private companies that demonstrate consistent earnings and robust free cash flow. Its current portfolio includes Bozzetto Group, a specialty chemicals firm, and Cortland International, which specializes in ropes and netting solutions.

The JSE listing is a core component of Aimia's three-step strategy to enhance shareholder value. By establishing an inward listing, the company aims to improve share liquidity and reduce the discount of its share price relative to its intrinsic value. Furthermore, the listing allows the organization to efficiently utilize its loss carry-forwards, creating a more tax-efficient environment for shareholder returns.

Leveraging the JSE’s "Simplification Project"

Aimia’s arrival on the JSE was facilitated by the exchange’s "Simplification Project," a regulatory overhaul designed to eliminate duplication and use plain language in listing requirements. This initiative, combined with the "fast-track" secondary listing process, allows global companies already listed on approved exchanges—such as the Toronto Stock Exchange (TSX)—to reach South African investors with minimal red tape.

The JSE’s Director of Capital Markets, Valdene Reddy, highlighted the listing as evidence of the exchange's value proposition as a gateway for global firms to access African capital. For South African investors, the inclusion of Aimia on the Main Board provides a new "global building block" for resilient portfolios, offering exposure to diverse industries like specialty chemicals and maritime netting through a locally accessible security.