Standard Bank to list on A2X

Standard Bank Group is set for a secondary listing on A2X Markets – and its shares will be available for trade from Thursday, 15 November 2018.

Standard Bank will retain its primary listings on the Johannesburg Stock Exchange (JSE) and the issued share capital will be unaffected by its secondary listings on A2X. There is no cost or additional regulatory compliance for Standard Bank as a result of its secondary listings, it said.

Standard Bank Group financial director, Arno Daehnke, said: “Standard Bank is pleased to be making its securities available for trade on A2X through secondary listings that complement our primary listings on the JSE.

“We have listened to our institutional investors, who have called for these secondary listings, which will offer enhanced choice to investors to trade through A2X’s platform and which demonstrate our support for the deepening and broadening of financial markets.”

The listing of Standard Bank Group’s ordinary shares and second preference shares for trade brings the number of securities available on A2X to 13 with a combined market capitalisation of over R520 billion.

In addition, A2X has 9 approved brokers that account for over 50% of all activity in the local equity market.

A2X opened its doors for trade in October 2017.

Separately, fast-moving consumer goods group AVI Limited also announced that it will list on A2X from 15 November 2018.

AVI is the twelfth company to list on A2X and has a market cap of almost R40 billion with a portfolio including more than 50 brands. AVI retains its primary listing on the Johannesburg Stock Exchange and the issued share capital will be unaffected by its secondary listing on A2X.

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