A2X’s value to top R14bn on Peregrine and ARC listings
A2X Markets will provide a secondary listing to African Rainbow Capital (ARC) Investments and Peregrine Holdings on October 6, giving the JSE rival a market value of more than R14bn on its first day of trade — a fraction of the JSE’s R11.8-trillion market capitalisation but many multiples larger than fledgling peers. A2X had signed on Peregrine Securities, SA’s second-largest stockbroker, and anticipated signing the country’s largest stockbroker, RMB Morgan Stanley, in the coming weeks, said CEO Kevin Brady. The exchange was on track for a soft launch on October 6, which meant it was "going live but gently" in terms of broker trades, he said on Thursday. Nedgroup Securities, Avior Capital Markets and Sinayo Securities had applied to be members on the exchange, while Investec Securities and Standard Bank Group Securities had expressed the intent to do so, Brady said. A2X will be the third new exchange to go live in SA and challenge the JSE’s decades-old dominance. ZAR X went live in ...
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