JSE-listed health and care brands company Ascendis Health has become the first healthcare company to list on A2X Markets, under the code ASC.
The group has a market cap of R5.4 billion.
Ascendis will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
“We see the secondary listing as an opportunity to attract potential new investors through the lower-cost trading structure of A2X and broaden our shareholder base. There is no cost to the secondary listing or any additional regulatory compliance,” said Ascendis Health CEO, Thomas Thomsen.
A2X began trading in October last year and now has eight approved brokers and eight companies listed on its platform with a combined market capitalisation of more than R220 billion.
A2X uses technology developed by the UK’s Aquis Technologies, a division of Aquis Exchange, which includes proven exchange matching and surveillance systems and a clearing platform custom-built for A2X.
Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority. The market-leading exchange systems are fast and efficient. Its surveillance system is programmed to monitor trading across multiple markets and ensures that any trading anomalies are detected early.