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Integrated Report FY2025 · governed data, evidence-linked
Reporting period · FY2025 Scope · Report-bounded issuer universe Last verified · 8 Sep 2026

Securities & Participation

Listed products, issuer performance and investor participation

Scope: Report-bounded issuer universe · Verified 8 Sep 2026
33*
Equity counters
5
Listed ETFs
P40.0bn
Bond nominal
2
Secondary listings

*Equity counter definition reconciliation pending, see Data Notes (R009).

Listed products, issuer performance and investor participation

Which counters moved the market in 2025?

Of 33 classified counters

21 positive · 63.6%
8 unchanged
4 negative

33 total, 21 positive and 4 negative are printed directly (BSE-IR-2025 p.111); the source says only "the remaining counters showed no change." The 8 and the percentages shown are the arithmetic remainder, not separately printed figures.

Choppies
+230.8%
BBS
+40.0%
BTCL
+26.4%
-7.1%
Cresta
-7.2%
Turnstar
-21.7%
Letshego
-62.9%
G4S

These 7 counters are the complete set individually named in the report (BSE-IR-2025 p.111). It is not a full stock screener, and no 2025 chart exists from which additional counters could be visually estimated. Choppies' outsized move dominates the scale; the remaining named counters are far smaller in magnitude.

Issuer valuation history

Verified FY2018-FY2024 P/E, price-to-book and dividend-yield observations are available where definitions align. FY2025 issuer valuation ratios are not tabulated in the Integrated Report. This is shown as an explicit unavailable state, never zero.

Listed-product developments & access

Listed-product developments

2025 product-universe changes

24 Apr 2025
GAIA Renewables 1 Class B
Preference shares · secondary listing
2 Dec 2025
Vunani Global Equity ETF
Actively managed · secondary listing (VGEETF)
During 2025
Absa sustainable bond
Listed Dec 2023 · matured

Access & outreach

100,000+
Cumulative CSD accounts
169+
Accounts opened at events
10+
Outreach engagements

Cumulative accounts, not a count of active or retail investors, and not limited to 2025.

Investor participation

FY2025 retail participation, two sources disagree

Under review
10X strategy scorecard
15.1%

FY2024: 11.6%

VS
Supplementary statistics
4.5%

FY2024: 8.6%

These figures tell opposite stories (R005). Until resolved, the only established fact is that institutional concentration is a material concern BSE itself has identified.

Investor contribution to equity turnover, verified years

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Investor-mix percentages published to FY2024. The FY2024 components sum to 99.1%, not 100.0% (R025), the printed components are preserved, not renormalised. FY2025 is withheld under R005.

Debt-market activity

P40.0bn
Nominal value
+4.7%
vs FY2024
54
Instruments admitted
1
Bond matured (Absa)
SectionCorporate bondsCommercial paperGovernment bondsTotal
Five-year market statistics (p.128)93177117*
Bond Market Activity narrative (p.111)95207122

Governed · not collapsed  117 and 122 are retained as two separate restricted evidence variants per the reconciliation register (R007). This is not a conflict to resolve into one number, and neither figure should be averaged or picked between. *117 is a derived sum of three published component rows (p.128), not itself a printed total; 122 is stated directly as a total in the p.111 narrative. A third, CSDB-register-scoped reading (121 = 96 corporate + 18 commercial paper + 7 government) exists but is not shown here; see Data Notes. Maturities are also given as 56 or 57 across sections (R008), no composition chart is published until that is separately reconciled.

Sources: BSE Integrated Report 2025 and Annual Reports 2022-2024. Canonical release bse_canonical_v1_0_2, database status approved (2026-09-08). Full reconciliation register →