The drums at the Johannesburg Securities Exchange (JSE) rang out for the eleventh time last week, with Alliance Data Corporation"s listing on the AltX. Alliance Data, a company that specializes in people and asset management solutions for the mining industry, officially listed as ?ACD" on the AltX, with 2.5 million shares being offered in a private placement.

The company, established in 1997, initially produced software systems designed to deliver advanced human resources/payroll systems, but later expanded its core software solutions to include time and attendance software solutions, aiming to enable companies to pay employees on a time and materials basis.

This application, Alliance Data says, has seen massive growth in the local mining industry, stemming from popular use of time/attendance solutions.

John Burk, director for listings at the JSE, says that when considering a company for listing on the AltX, the quality of the company from the entrepreneurial, vision and integrity points of view is considered to be most important.

"Alliance Data Corporation was able to deliver on all three of the criteria," he says, "and so we welcome it to the JSE."

Alliance Data CEO, Eugene de Kok, says that the company is excited about its listing. "Make no mistake, it was a stringent process to list on AltX, but we believe it was a very good move to increase the company"s investor and client awareness."

"Also," De Kok continues, "intellectual capital is an extremely valuable resource in the IT sector, and this listing could help the company attract and retain additional intellectual property through the incentive of meaningful equity participation."

Alliance Data says that it expects to generate sales of just over 24 million Rand (US$3 million), with profit before taxation forecast at R7.1m and earnings per share projected at 22.1 cents per share, for the year ending 28 February 2006.

According to a company news release, Future plans for Alliance Data include taking advantage of the foundation it established in the mining industry to expand its client base to include other vertical markets. Moving the company out of its current mining niche, and further expansion into Africa, are also on the cards, De Kok says.

With eleven companies now listed on the AltX, the JSE is becoming increasingly optimistic. Noah Greenhill, business development manager for the JSE, says that the pipeline in terms of the AltX is looking good, and we can expect to see many more listings in the near future.