South Africa\u2019s biggest cement supplier PPC has been approved for a secondary listing on A2X Markets, marking the third exchange that PPC shares will be available to investors.<\/p>\n
The group\u2019s shares will be available for trade on A2X from 30 May 2023, and the company affirmed that it will retain its listing on the JSE Limited (\u201cJSE\u201d) and the Zimbabwean Stock Exchange (\u201cZSE\u201d), and its issued share capital will be unaffected.<\/p>\n
PPC is South Africa’s leading supplier of cement, aggregates, ready-mix concrete, slag and fly ash, with seven\u00a0integrated cement plants across South Africa, Botswana, DRC, Rwanda, and Zimbabwe \u2013 producing an annual capacity of around 11.6 million tonnes of cement.<\/p>\n
\u201cWe are excited to be joining A2X, which provides investors with an alternative venue to trade our shares, a platform that offers efficient and cost-effective trading. We are also pleased to be supporting the development of South Africa\u2019s capital markets through this listing,\u201d said PPC CEO Roland Van Wijnen.<\/p>\n
\u201cPPC is an iconic South African company that was originally listed in 1910 and is one of only three public companies that have remained listed for over 100 years. We are delighted to be welcoming a company to our market next week with such a deep history that has literally built South Africa,\u201d added A2X CEO Kevin Brady.<\/p>\n
The listing will bring the number of instruments listed on A2X to 129, with a combined market capitalisation of over R9 trillion.<\/p>\n
PPC joins other well-known South African companies, including AngloGold Ashanti, AVI, Coronation, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Netcare, Prosus, Remgro, Sanlam, Sasol, Sun International, Standard Bank. WBHO and Woolworths are also listed on A2X.<\/p>\n
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.<\/p>\n