Sasol to list on A2X
The chemicals group has become the 34th stock to list on the low-cost exchange.
South Africa-based chemical group Sasol is the latest to list on the low-cost A2X exchange in February, increasing the number of securities available for trade on the exchange to 34.
Sasol, which will list on the A2X on February 3, will retain its listings on the Johannesburg Stock Exchange (JSE) and New York Stock Exchange.
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.
“Sasol’s decision to list on A2X is part of the company’s commitment to continually find ways to increase value for shareholders as well as provide them with a variety of trading venue options,” said Sasol CFO Paul Victor (pictured).
A2X CEO, Kevin Brady said: “Sasol is one of South Africa’s most well-known and iconic companies and we are delighted to be welcoming them onto our platform. As a global player with local roots and a pioneer in innovation for over six decades, this is a great endorsement for the merits of a secondary listing. Sasol investors will benefit from not only the direct saving of lower transaction fees on A2X but also the indirect savings that accrue as result of narrower spreads and increased liquidity.”
The Sasol listing will bring the number of securities available for trade on A2X to 34 with a combined market capitalisation of over R2 trillion. A2X has listings from many key sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications. In addition, A2X has also attracted listings in exchange traded products including Absa’s three precious metal exchange traded funds and Investec’s exchange traded notes.