FNB Top 40 ETF to Delist 200,000 Securities on JSE

In Short

• FNB Top 40 ETF will partially delist 200,000 securities on the JSE.
• The change takes effect from the start of trading on 11 September 2026.
• After the delisting, 47,875,770 ETF securities will remain in issue.

What Happened

FNB Top 40 ETF investors will see a smaller number of listed securities after the JSE approved a partial delisting of 200,000 units. The update was published on 9 September 2026 by FNB Management Company RF Proprietary Limited, the manager of the fund.

A partial delisting means some ETF securities are removed from the exchange listing, but the ETF itself stays listed and continues trading. ETFs are exchange traded funds, they are baskets of shares that trade like a single stock.

The delisting is scheduled to take effect from commencement of business on Friday, 11 September 2026. Following that, the total number of FNB Top 40 ETF securities in issue will be 47,875,770.

The notice also lists FirstRand Bank Limited as the debt sponsor. A sponsor is an approved firm that helps ensure the issuer meets JSE listing and disclosure requirements.

Why It Matters

For investors, the key point is supply. When an issuer reduces the number of ETF units in issue, it can affect secondary market liquidity, meaning how easily buyers and sellers can trade without moving the price.

In many ETFs, changes in units outstanding happen as part of normal ETF creation and redemption. That is the process where authorized parties add or remove ETF units to keep the trading price close to the value of the underlying holdings.

Still, traders and long term holders may want to watch bid and offer spreads and daily volumes in the days after 11 September. Wider spreads can increase trading costs, especially for smaller orders.