South African technology company EOH Holdings Limited has been approved for a secondary listing on the A2X Markets stock exchange.
The company announced its ordinary shares would be available for trade on A2X from Friday 13 August 2021.
Launched in October 2017, A2X Markets is a licenced South African stock exchange that provides a secondary listing venue for companies.
It offers an efficient and cost-effective trading venue to secondary list and trade shares, exchange-traded funds (ETFs), and exchange-traded notes (ETNs).
Group Financial Director of EOH, Megan Pydigadu, said the company’s decision to list on A2X in addition to the JSE would give its shareholders access to an additional platform with lower transaction fees.
“This is in line with the Group’s commitment to continuously find ways to increase value for shareholders,” Pydigadu said.
A2X has said that the end-to-end costs of transacting on its platform are about 50% lower than the JSE.
A2X Markets CEO Kevin Brady said EOH’s ability to use the latest technology to cut costs and drive more efficient business practices resonated with A2X, and it looked forward to demonstrating the benefits of the listing to EOH’s shareholders.
The listing will bring the number of instruments available for trade on A2X to 53, with a combined market capitalisation of over R4 trillion.
A2X has listings from companies in various industries — including media, property, technology, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.
Other well-known companies on A2X include Naspers, Prosus, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price, Growthpoint, Momentum Metropolitan and Famous Brands.
EOH will retain its listing on the Johannesburg Stock Exchange (JSE), and its issued share capital will be unaffected by its secondary listing on A2X, the company stated.