Standard Bank and AVI dual-list on A2X
This brings the total number of JSE-listed companies to list on A2X to 13, with shares of the two newest clients trading from November 15
Two more JSE-listed companies — Standard Bank and AVI — have agreed to have their shares trade on newcomer A2X's platform.
This brings the total number of JSE-listed companies to dual-list on A2X to 13, with shares of the two newest clients trading from November 15.
“Standard Bank is pleased to be making its securities available for trading on A2X through a secondary listing that complements our primary listing on the JSE,” Standard Bank financial director Arno Daehnke said in a media release on Thursday.
"We have listened to our institutional investors, who have called for this secondary listing, which will offer enhanced choice to investors to trade through A2X’s platform and which demonstrates our support for the deepening and broadening of financial markets.”
A2X CEO Kevin Brady said in a separate media release: “AVI is home to many of SA’s leading and best-loved brands spanning a range of categories from food, to personal care, fashion and accessories. As the first fast-moving consumer goods company to list on A2X, we view its imminent listing as an important milestone as we attract listed companies from various sectors."
A2X's earliest dual-listings included financial services group Sanlam and asset manager Anchor Capital.
It is one of four new entrants into a market previously monopolised by the JSE. the others are ZAR X and 4AX and Equity Exchange Express Securities.