Bluedrop Energy , a South African Gas start-up company , recently announced its plans to list its shares on the NYSE in New York , US , and the Johannesburg Stock Exchange ( JSE ), South Africa . Bluedrop will first float its shares on the NYSE in 2022 , while its JSE listing will follow at a date still to be announced .

Export-Import Bank ( Ex-Im ) of the US has also issued a letter of interest providing USD36-million ( R497-million ) finance guarantee in support of J Sassoon Group for this project .

Last month , J . Sassoon Group signed a Technical Services Agreement ( TSA ) with the South African office of a US-based multinational engineering firm , Fluor Corporation , for the development of Bluedrop ' s smart composite LPG cylinder manufacturing plant .

Commenting on the listing , J . Sassoon Group Chairman , Mr David Sassoon said : " We are pleased to continue to advise Bluedrop on its next step in its journey . The South African market is in desperate need for foreign capital infusion and this potential floating of Bluedrop ' s shares in New York is going to help Bluedrop grow exponentially through asset acquisitions making it one of the leading LPG wholesalers and composite LPG cylinder manufacturers in Africa .

Bluedrop Energy

Mr Kenneth Maduna , CEO , Bluedrop Energy .

Unfortunately , there has been a drought of investments in South Africa ' s capital market , forcing start-ups like Bluedrop to seek funding from foreign markets . These are opportunities that should be available for local entrepreneurs and investors , unfortunately these opportunities end up being transferred to markets like New York and London .