Picture: SUPPLIED/MOMENTUM METROPOLITAN HOLDINGS
Picture: SUPPLIED/MOMENTUM METROPOLITAN HOLDINGS

Insurance and financial services group Momentum Metropolitan Holdings is due to list on the A2X in August, bringing the number of securities traded on the bourse to 38, with a combined market capitalisation of R2.2-trillion.

Momentum will retain its primary listing on the JSE and, with a market capitalisation of R26.3bn, joins companies such as Standard Bank, which has a market capitalisation of R182.8bn, and Sasol, worth R83.8bn.

Naspers, with a market capitalisation of more than R1.3-trillion, is also listed.

The A2X provides a secondary listing venue for companies and began trading in October 2017, serving as a lower-cost rival to the JSE.

Momentum group finance director Risto Ketola said the listing would help reduce costs related to financial market transactions.

“We also believe that healthy competition is to everyone’s benefit and supporting multiple local exchanges aids to increase competitiveness in this space,” said Ketola.

gernetzkyk@businesslive.co.za

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