Equites Property Fund latest to list on A2X
This brings the number of securities available for trade on A2X to 22.
Real estate group Equites Property Fund has become the latest company to agree for its shares to be traded on A2X Exchange in South Africa.
A2X said on Monday that Equites Property Fund has been approved for a secondary listing on its trading platform, with its shares being available for trade from July 12019.
Equites, with a market cap of over R10 billion, will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority of South Africa. A2X is a new entrant in the securities trading market, which was previously monopolised by the JSE.
The Equites’ listing will bring the number of securities available for trade on A2X to 22, with a combined market capitalisation of over R2.4 trillion. These include Nepi Rockcastle, Standard Bank, Naspers, AVI, Anchor Group, Afrimat, African Rainbow Capital Investments, African Rainbow Minerals, Ascendis Health, Coronation Fund Managers, Growthpoint Properties, Huge Group, Peregrine Holdings, Sandown Capital and Sanlam.
Equites CEO Andrea Taverna-Turisan (pictured) said: “We see this listing on A2X as another opportunity to attract potential new investors and deliver even more value to our shareholders by providing our investors with the choice of a low-cost venue on which to transact our shares.”
A2X CEO Kevin Brady said: “This is the third company from the property sector to list on A2X, which indicates growing depth across the various market sectors. We are excited to see an increasing number of companies using the opportunity to capture of the benefits that a secondary listing offers. We warmly welcome Equites to our growing list of companies.”
Kevin recently told M&A Africa that A2X wants to add one new listing every month on its platform.
“We have six months to go before year-end, so we want to add another six. We set a target of 14 listings for the year and we are closer to the target,” he said. Read more here.