CA Sales made its debut on the 4 Africa Exchange (4AX) on Tuesday, becoming the third company to list on the exchange. The fast-moving consumer goods (FMCG) company opened trade at R4.48, giving it a market capitalisation of R1.8bn. 4AX was granted a licence in August 2016 and, together with ZAR X, became the first two stock exchanges to enter a market dominated by the JSE for at least half-a-century. A2X Markets is expected to begin trading before the end of 2017. CA Sales Holdings, a subsidiary of investment group PSG Capital, operates in eight territories in sub-Saharan Africa, dealing in sales, merchandising, warehousing and distribution in the FMCG trade. CA Sales will also list on the Botswana stock exchange this week. CEO of CA Sales Frans Britz said the 4AX listing would give credibility to the brand while getting exposure to other markets through the exchange. "Companies get lost in bigger exchanges, especially the small to medium-sized ones," he said, adding that listing o...

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