The Nedbank Group has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on the exchange from 1 April 2022.
Nedbank said it will retain its listing on the Johannesburg Stock Exchange (JSE) and secondary listing on the Namibian Stock Exchange (NSX) and its issued share capital will be unaffected by its listing on A2X.
“Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares,” said chief financial officer Mike Davis.
The listing will bring the number of instruments available for trade on A2X to 62 with a combined market capitalisation of around R4.2 trillion.
Nedbank joins Standard Bank and Investec Ltd and Investec plc from the banking sector and other Top40 Index constituents, namely Aspen, Exxaro, Growthpoint, Mr Price, Naspers, Nepi, Prosus, Remgro, Sanlam and Sasol.
“Nedbank is a well-respected and admired South African bank with a rich history and we are pleased to be welcoming the business to A2X in April. We look forward to demonstrating the benefits that an A2X listing will bring to its shareholders,” said A2X chief executive Kevin Brady.