Vunani to list on A2X
Small-cap financial services firm says secondary listing will give current investors more choice and attract new ones
Small-cap financial services firm Vunani, which last week announced plans to graduate to the JSE’s main board, says it will also list its shares on rival exchange A2X Markets.
Shares in the black-owned company, which is currently listed on the JSE’s alternative exchange (AltX), will start trading on A2X on 31 July, it said on Wednesday.
The secondary listing on A2X would give “more choice to our current investors” and could attract new ones, said Vunani CEO Ethan Dube.
Vunani said last week it would ask the JSE to transfer its listing from the bourse’s AltX to the main board. The group was formed in the late 1990s and listed on the AltX in November 2007.
Since then, its share price has more than doubled to R2.50.
When Vunani lists, A2X will have 26 securities available for trade. The exchange competes by offering lower transaction fees, and recently listed its first exchange-traded fund (ETF).
A2X CEO Kevin Brady said Vunani’s secondary listing “not only provides choice to Vunani investors but enables savings to be captured, as A2X’s low-cost structure drives a better-quality market by narrowing spreads and attracting new liquidity”.
A2X provides a secondary listing venue for companies and began trading in October 2017.