A2X secures Naspers’s secondary listing
The market heavyweight is set to become the 15th company to seek a secondary listing on the JSE’s rival, tripling the A2X’s market capitalisation
Trading in shares of market heavyweight Naspers will start on the recently launched JSE competitor A2X on Thursday, by far the biggest catch for the JSE’s rival since it began operating in October 2017. Naspers’s listing brings the number of company’s operating on the A2X to 15, and the market capitalisation of the bourse to R2-trillion. This is still a fraction of the JSE’s R10.28bn capitalisation, but has more than tripled the A2X’s capitalisation, which previously stood at R600bn. Naspers was the largest listed company in SA and one of the largest technology investors in the world, as such this was a great endorsement of the merits of a secondary listing, said A2X CEO Kevin Brady. A2X, which also serves as the secondary listing site of, among others, Standard Bank, Sanlam, Ascendis and AVI, markets the fact that it is significantly cheaper than the JSE, maintaining end-to-end costs of transacting on it are 50% lower than average. Said Brady, “We are run by an experienced local te...
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