Bruce Whitfield:
Another new listing for AltX, Workforce Holdings, the chairperson and chief executive is a man called Ronny Katz who joins us on the line now. Ronny, you listed 24 million shares at one rand, that is where you made the offer to shareholders before you listed, and you closed at 1.45 rand. It indicates a fair amount of interest.

Ronny Katz:
Yes absolutely, we were very encouraged by the market interest and by the drive behind the share.

Bruce Whitfield:
Your business is in recruitment and we have seen a number of recruitment listings recently, we saw Kelly not so long ago. Why is it that you are coming to the market at this point?

Ronny Katz:
We envisage that there is going to be large growth in the outsourcing market. We don't really regard ourselves as recruitment as such, recruitment forms a small part of our business, the major part of our business is the outsourcing of staff and staffing solutions and we see that in the growing economy that we have that there is going to be a big drive in this area.

Bruce Whitfield:
Nobody really seems to know exactly how many people are placed in our economy on a temporary basis. Your figures today suggest anywhere between 400 000 and 800 000 which is quite a big gap.

Ronny Katz:
Yes, unfortunately there are not real statistics on it. At the moment they are not kept in that kind of a manner but that is what our estimate is, it is between those two figures.

Bruce Whitfield:
How big is the potential size of this market?

Ronny Katz:
Well we believe in value approximately R15 to R18-billion.

Bruce Whitfield:
And the number of jobs that potentially could be created over the next five years in terms of temporary recruitment?

Ronny Katz:
Well if we are talking about 500 000 jobs at the current level we think that that could increase by at least another 10 percent. So you're talking about 550 000 to 600 000 jobs in this area.

Bruce Whitfield:
And certainly every person you place in a company you would get a commission payment, I would guess.

Ronny Katz:
Yes, we get an administrative fee for not only placing the person but for administering them whilst they are there.

Bruce Whitfield:
Revenues last year R666-million, you are forecasting R830-million for this current financial year, it's a very serious growth number. What is your outlook going forward; when do you anticipate you will break a billion?

Ronny Katz:
Well we really hope that we will achieve that next year. Our forecast for next year is R975-million so with a bit of luck we will break the billion next year.

Bruce Whitfield:
And as a listed company you are going to remain chairperson and chief executive; or are you going to split those roles at some point?

Ronny Katz:
In due course we will be splitting the role, in the short term I will be retaining both roles.

Bruce Whitfield:
Because this is a company that you founded way back in the 1970s, isn't it?

Ronny Katz:
Yes, over 30 years in the company.

Bruce Whitfield:
Over 30 years: is this a way for you also to release some capital from the business and stay involved without losing control?

Ronny Katz:
Not really, in 1999 we did a private equity placing which released some capital for me. At this point in time I'm not drawing any further capital out. I am not selling any shares, the proceeds all coming into the company for working capital.

Bruce Whitfield:
Ronny Katz, thanks for talking to us this evening. What a remarkable listing today: the shares were made available before the company listed at a rand each and today the market closed there at R1.45.