Naspers listing a marketing coup for A2X
Addition of the company with a market capitalisation of more than R1.2-trillion should boost the liquidity of the exchange
Getting the most valuable JSE stock to list on its platform will certainly do a lot of marketing work for A2X. The stock exchange, which is partly owned by Patrice Motsepe’s African Rainbow Capital, already has 15 JSE-listed companies on its platform. Being a secondary-listing stock exchange, A2X only accepts companies that are primarily listed elsewhere although its universe of stocks is confined to those listed on the JSE. The listing of Naspers, on December 27, will add a company with a market capitalisation of more than R1.2-trillion and one of the most popular stocks, which should boost the liquidity of the exchange. The JSE says that as more stock exchanges enter the market, investors will choose platforms that offer more liquidity so investors can get the right price. It seems that from a price perspective, A2X is quite attractive. Looking at Standard Bank, for instance, it had an offer price of R170.93 about midday on Tuesday on A2X, which was close to the R171.00 ...