Tharisa to list shares on South Africa's A2X
It will still retain a listing on the Johannesburg Stock Exchange and London Stock Exchange.
Platinum-group metals and chrome co-producer Tharisa has become the latest comapny to agree for its shares to be traded on A2X Exchange in South Africa.
Tharisa will be embarking on a secondary listing of its shares on A2X Exchange with effect from February 6, 2019.
Tharisa’s primary listing on the Johannesburg Stock Exchange (JSE), secondary standard listing on the main board of the London Stock Exchange (LSE) and issued share capital will be unaffected by the 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.
Tharisa’s listing brings the total number of JSE-listed companies that have embarked on a listing on A2X to more than 13. These include 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.
“We see the secondary listing on A2X as an opportunity to improve liquidity and attract new investors through the lower trading costs offered by the A2X trading platform,” said Tharisa CEO Phoevos Pouroulis (pictured).
“There are no additional regulatory requirements or ongoing obligations to comply with. Listing on A2X will complement Tharisa’s existing listings on the JSE and LSE by providing investors with a choice of exchange on which to transact,” added Phoevos.