Naspers has been approved for a secondary listing on A2X Markets.
The media and internet company will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
Naspers shares will be available to trade on both the JSE and A2X from Thursday, 27 December 2018. There is no cost, risk, or additional regulatory compliance for Naspers as a result of its secondary listing.
“We are thrilled to welcome Naspers onto the A2X platform. As the largest listed company in South Africa and one of the largest technology investors in the world, operating in more than 120 countries and markets, this is a great endorsement for the merits of a secondary listing,” said A2X CEO, Kevin Brady.
The end-to-end costs of transacting on A2X are 50% lower than current trading costs in South Africa, Brady said.
The listing of Naspers on the A2X platform brings the number of companies listed to fifteen with a combined market capitalisation of almost R2 trillion.
A2X commenced trading in October 2017 and has nine approved brokers that account for approximately 50% of total market activity.