Investment holding group Remgro Limited has been approved for a secondary listing on the A2X Markets, the group confirmed in a JSE Sens statement on Wednesday.
Trading of its shares on the A2X will commence from January 3, 2022, making it the first new listing on this stock exchange in the new year.
The group will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
“At Remgro our vision to be the trusted investment company of choice that consistently creates sustainable stakeholder value. Our listing on A2X is an extension of this commitment and provides our investors with the choice to source additional liquidity and the opportunity to capture the benefits of narrower spreads and lower exchange fees,” said CEO Jannie Durand.
This listing will bring the number of instruments available for trade on A2X to 60, with a combined market capitalisation of over R5 trillion.
Remgro will be joining other well-known companies including Aspen, Exxaro, Growthpoint, Investec, Mr Price, Naspers, Prosus, Standard Bank, Sanlam and Sasol.
Kevin Brady, CEO of A2X Markets said: “We are delighted to welcome Remgro to A2X in January, and it will be our first listing for 2022. Remgro is a well-known and highly respected South African investment company and its listing on A2X is an endorsement for both the benefits of a listing on A2X and the importance of a healthy and competitive capital market.”
Remgro is a well-known South African investment holding company, originally established in the 1940s with interests in a range of industries such as healthcare, consumer products, financial services, infrastructure, industrial and media industries.
Investments include Mediclinic International plc (44.6%), Rand Merchant Investment Holdings Limited (30.6%), Community Investment Ventures Holdings Proprietary Limited (57.0%), Distell Group Holdings Limited (31.7%), FirstRand Limited (3.3%), Siqalo Foods Proprietary Limited (100%), RCL Foods Limited (80.4%) and Air Products South Africa Proprietary Limited (50%).
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 of the South African Reserve Bank in terms of the Financial Markets Act. A2X began trading in October 2017.
Palesa Mofokeng is a Moneyweb intern.