South Africa’s biggest retailer gets secondary listing on A2X

South Africa’s biggest retailer Shoprite has been approved for a secondary listing on A2X Markets, marking the fourth exchange that Shoprite shares will be available to investors.

The group’s shares will be available for trade on A2X from 11 April 2023.

The Shoprite Group is the largest South African retailer by market capitalisation, sales, profit and the number of employees and customers.

Its core business is food retailing, complemented by adjacent value-added retail services and offerings across a range of industries such as furniture, digital commerce, pharmaceutical, ticketing, hospitality, as well as financial and cellular services.

Listed on the Johannesburg Stock Exchange (JSE), the Namibian Stock Exchange (NSX) and Lusaka Securities Exchange (LUSE), Shoprite Holdings’ issued share capital will be unaffected by the additional listing on A2X.

The Shoprite listing will bring the number of instruments listed on A2X to 112, with a combined market capitalisation of around R6.7 trillion. Shoprite’s listing on A2X highlights an important milestone for A2X as more than half of all top 40 constituents will now have a secondary listing on the exchange.

The retailer will join other Top 40 companies, including Absa, Aspen, Discovery, Investec, Mr Price Group, Naspers, Nedbank Group, Prosus, Sasol, Standard Bank and Woolworths, that are also listed on the exchange.

“We are delighted to be welcoming Africa’s largest retailer to our platform next week. As demonstrated by its most recent financial results, Shoprite is an exceptional company that has delivered ongoing growth even in a difficult operating environment,” said A2X CEO Kevin Brady.

A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.

Read: Seacom appoints new CEO