Exxaro approved to list on A2X

SA's largest coal miner will become the 36th company to list on the A2X.

South Africa’s largest coal producer has been approved for a secondary listing on the A2X from 2 April, bringing the number of securities available for trade on the exchange to 36 with a combined market capitalisation of more than R1.5-trillion.

Exxaro will be the third mining company to list on the A2X, joining African Rainbow Minerals and Tharisa.

A2X provides a secondary listing venue for companies and began trading in October 2017.

Exxaro CEO Mxolisi Mgojo (pictured) said the reduced trading costs on the A2X would lead to savings for investors.

“Mining still plays a significant role in the economy of our nation. Our listing on the A2X supports our commitment to investors and the South African marketplace. At Exxaro, we believe one of the keys to remaining relevant is to incorporate emerging technologies into our business operations and our listing on A2X is an example of this.

“A2X is leveraging technology in an effort to reduce trading costs which will lead to cost savings for Exxaro investors,” said Mxolisi.