JSE-listed producer of platinum and associated platinum group metals Impala Platinum Holdings Limited (Implats) confirmed on Monday that it will list its ordinary shares on A2X Markets. The shares will be available for trade on the South African capital market platform from June 13, 2022.
“The group believes the A2X listing will provide investors with a competitively priced alternative platform to trade shares in the company and supports the development and growth of a healthy capital market in South Africa,” Implats said in a Sens statement.
Implats says its secondary listing on A2X will not affect its issued share capital.
The platinum producer will retain its primary listing on the Johannesburg Stock Exchange and its level one American Depository Receipt programme in the USA.
“The Implats counter is a high-quality and liquid scrip, and we are pleased to have the opportunity to offer it to the broadest possible range of investors,” adds Implats’s CFO Meroonisha Kerber.
“This secondary listing on A2X aligns with international best practice and supports the growth and development of South Africa’s capital markets.”
A2X chief executive officer, Kevin Brady, says, “Implats has a proud 50-year history in precious metals mining, and it is wonderful to welcome a company that is producing metals that contribute to a cleaner, greener world.
“We are excited to welcome a company of this calibre to our market.”
The new listing brings the number of instruments available for trade on A2X to 68, with a combined market capitalisation of approximately R4.5 trillion.
The Implats listing on A2X comes after AngloGold Ashanti announced, on May 30, that it will also list its shares on A2X from June 6, 2022.
Implats joins African Rainbow Minerals, Pan African Resources, Exxaro and Tharisa from the mining sector which have secondary listings on the A2X platform.
Read the Sens here.
Nondumiso Lehutso is a Moneyweb intern.