Standard Bank announced that its has been approved for a secondary listing on A2X.
Standard Bank Group Limited Ordinary Shares (SBK) and Standard Bank Group Limited Second Preference Shares (SBPP) will both be available for trade on A2X from 15 November 2018.
The bank said it will retain its primary listings on the Johannesburg Stock Exchange (JSE), adding that its issued share capital would be unaffected by its secondary listings on A2X.
A2X is a licensed stock exchange which opened on 6 October 2017 and provides a secondary listing venue for companies.
Standard Bank added that there is no cost or additional regulatory compliance as a result of these secondary listings.
“Standard Bank is pleased to be making its securities available for trade on A2X through secondary listings that complement our primary listings on the JSE,” said Standard Bank financial director Arno Daehnke.
“We have listened to our institutional investors, who have called for these secondary listings, which will offer enhanced choice to investors to trade through A2X’s platform and which demonstrate our support for the deepening and broadening of financial markets.”
AVI Limited listing
AVI Limited has also announced that it will list on A2X, making it the first fast-moving consumer goods (FMCG) company to list on the exchange.
The company said it will retain its primary listing on the JSE and its issued share capital would be unaffected by the secondary listing.
AVI shares will be available to trade on A2X from 15 November 2018.
“As the first FMCG company to list on A2X, we view its imminent listing as an important milestone as we attract listed companies from various sectors,” said A2X CEO Kevin Brady.
“We are delighted to welcome AVI to our platform and look forward to demonstrating the benefits that effective competition in the secondary share market will bring to AVI’s investors as well as to the growth of the overall market.”
The number of securities available on A2X has now reached 13, with a combined market capitalization of over R520 billion.