Tharisa (THS ) has completed all the requirements for a further secondary listing on the main board of the Namibia Securities Exchange (NSX) under the symbol ‘THR’, with trading to commence on
9 November 2026. 

There will be no change to Tharisa’s listing on the JSE, which will remain the primary listing for Tharisa’s ordinary shares. The Southern-African focussed miner of platinum group metals and chrome also has a listing in London.

The new listing provides Namibian institutional investors with direct access to Tharisa’s PGM and chrome exposure, which is not otherwise available to them on the NSX

Certain Namibian asset managers and pension funds are required to hold a minimum proportion of their assets domestically

Index-linked demand, where Namibian institutional investors track NSX indices, is calculated on free float market capitalisation and is therefore expected to grow as the company’s valuation develops

The idea is to adds new, incremental demand rather than dividing existing liquidity - the NSX-listed shares are the same fungible ordinary shares traded on the JSE, and the JSE remains the principal venue for price discovery

‘The listing on the Namibia Securities Exchange is a measured and cost-effective step in our ongoing programme to broaden and diversify Tharisa’s investor base,” said Phoevos Pouroulis, chief executive of Tharisa.

“It affords Namibian institutional investors direct access to a PGM and chrome producer, an exposure not otherwise available to them on the NSX, and reflects the long-term nature of Namibian pension capital, which is well aligned with our growth strategy as we advance Karo Platinum. We are confident the listing will bring new demand to our shares rather than dilute existing liquidity, with the JSE remaining the anchor for price discovery. The listing complements the company’s wider capital markets initiatives, and we look forward to welcoming Namibian investors to our share register.’

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The FTSE NSX Capped Overall Index is weighted towards financial stocks, with Anglo American currently its only resources constituent. Tharisa’s listing will therefore offer Namibian institutions a means of gaining PGM exposure within their domestic asset allocation, and make the company a primary focus for local investors looking for exposure to mining. With the Namibian dollar pegged at par to the Rand, the NSX price is expected to track the JSE price closely. Namibia has recently played host to a flurry of mining activity and has established itself as a welcoming jurisdiction at the operational level. Tharisa is about to help broaden Namibia’s appeal even further, even as it expands its own operations underground and moves forward with the development of Karo.