Stan­dard Bank, AVI an­nounce their sec­ondary list­ings on A2X


JSE-LISTED Stan­dard Bank and AVI are the lat­est com­pa­nies to an­nounce sec­ondary list­ings on the A2X.

A2X, founded in Oc­to­ber last year, has man­aged to at­tract 13 com­pa­nies in the past 13 months.

A2X chief ex­ec­u­tive, Kevin Brady, said: “We wel­come the list­ing of Stan­dard Bank’s or­di­nary and sec­ond pref­er­ence shares on A2X and they are look­ing for­ward to demon­strat­ing the ben­e­fits these list­ings will bring to their in­vestors as well as to the over­all growth and pro­gres­sion of lo­cal cap­i­tal mar­kets.”

Other es­tab­lished com­pa­nies, with sec­ondary list­ings in­clude San­lam, As­cendis Health, Syg­nia, Growth­point Prop­er­ties, Pere­grine Hold­ings, Coro­na­tion Fund Man­agers and African Rain­bow Cap­i­tal In­vest­ments.

The com­pa­nies listed on AX2 have a com­bined mar­ket cap­i­tal­i­sa­tion of more than R520 bil­lion.

A2X has nine ap­proved bro­kers that ac­count for more than 50 per­cent of all ac­tiv­ity in the lo­cal eq­uity mar­ket.

Stan­dard Bank’s fi­nan­cial direc­tor Arno Daehnke said the group was pleased to be mak­ing its se­cu­ri­ties avail­able for trade on A2X through sec­ondary list­ings that com­ple­ment its pri­mary list­ings on the JSE. “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,” Daehnke said.

The sec­ondary list­ing shares of Stan­dard Bank will start trad­ing on the A2X on Novem­ber 15 and the bank will re­tain its pri­mary list­ing on the JSE.

The is­sued share cap­i­tal will not be af­fected by its sec­ondary list­ing on A2X.

Stan­dard Bank has a mar­ket cap­i­tal­i­sa­tion of R289.49bn and the list­ing makes it the most valu­able com­pany to join A2X mar­kets.

Stan­dard Bank’s move to A2X fol­lows that of fast mov­ing con­sumer goods (FMCG) com­pany AVI, which an­nounced its sec­ondary list­ing ear­lier in the day. AVI has mar­ket cap­i­tal­i­sa­tion of R37.78bn and con­sists of a range of cat­e­gories from food to per­sonal care, fash­ion and ac­ces­sories.

AVI, which has more than 50 brands in its port­fo­lio, will also re­tain its pri­mary list­ing on the JSE. AVI shares will also be avail­able for trade on A2X from Novem­ber 15. A2X is a li­censed stock ex­change which pro­vides a sec­ondary list­ing venue for com­pa­nies.

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