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EOH to list on A2X stock exchange

Will still keep its listing on the JSE, with its issued share capital to remain unaffected.
Image: Moneyweb

One of South Africa’s largest technology service providers, EOH Holdings Limited, has received approval for a secondary listing on A2X Markets, with its ordinary shares to be made available for trade from August 13.

The group’s listing now brings the total number of instruments available for trade on A2X to 53 with a combined market capitalisation of over R4 trillion. It joins well-known companies including Naspers, Prosus, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price, Growthpoint, Momentum Metropolitan and Famous Brands.

Megan Pydigadu, EOH group financial director sys: “EOH’s decision to list on A2X will give our shareholders access to an additional platform with lower transaction fees. This is in line with the group’s commitment to continuously find ways to increase value for shareholders.”

Kevin Brady, CEO of A2X Markets adds: “EOH’s ability to use the latest technology to cut costs and drive more efficient business practices resonates with us and we look forward to demonstrating the benefits a listing on A2X brings to their shareholders.”

EOH will retain its listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will not be affected by the secondary listing on A2X.

The group boasts of a wide range of services in industry consulting, IT services, systems integration, software, industrial technologies and business process outsourcing, while A2X has listings from various key sectors such as media, property, technology, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.

Read: EOH sues founder Asher Bohbot for R1.7bn

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. It began trading in October 2017, with seven approved brokers that account for over 60% of market activity.

Palesa Mofokeng is a Moneyweb intern.

COMMENTS   1

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So perhaps someone can explain this to me…
But if the A2X guys can offer the same things (apart, perhaps, from being lesser known) as the JSE for a much lower cost, then why have the dual listing?

Surely there’s still 2 costs to the company (the JSE and A2X) now, so just move to the more efficient one?

End of comments.

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