Spar next to list on A2X

 ·8 May 2024

The SPAR Group has been approved for a secondary listing on A2X Markets (A2X), and its shares will become available for trade on A2X from 15 May 2024.

SPAR has wholesale warehousing and distribution operations in Southern Africa and parts of Europe that support over 4,500 stores through 14 distribution centres.

It operates in 11 countries and reported revenue of R149 billion in 2023.

In Southern Africa, SPAR has over 1,000 grocery stores, almost 900 TOPS at SPAR liquor stores, 400 Build It stores, and 125 pharmacies.

TOPS at SPAR and Build It are South Africa’s largest liquor and building supplies retailers, respectively.

The SPAR model is predominantly driven by entrepreneurial independent retailers, and offers investors exposure to groceries, liquor, pharmaceuticals and building materials in Southern Africa.

In Europe, the Group also has exposure to corporate grocery retail stores, cash-and-carry businesses and food services.

The listing will bring the number of instruments listed on A2X to 184, with a combined market capitalisation of around R9.4 trillion.

SPAR retains its listing on the JSE, and its issued share capital will be unaffected by its secondary listing on A2X.

Read: Tech problem continues to bleed Spar

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