Africa’s Tech Giant Naspers To Secondary List On A2X Markets

Naspers will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.

0
Kevin Brady, CEO of A2X
Kevin Brady, CEO of A2X

Naspers, Africa’s tech giant, has been approved for a secondary listing on A2X Markets.

A2X Markets (A2X) is a South African stock exchange playing an integral part in the progression of the South African marketplace.

It began trading on 6 October 2017. An experienced team, advanced technology and agile environment enable A2X to provide an efficient and cost-effective trading venue to secondary list and trade shares.

Naspers will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. Its shares will be available to trade on both the JSE and A2X from Thursday, 27 December 2018.

“A2X is one of a growing number of new exchanges that are leveraging technology in an effort to reduce trading costs and increase market transparency,” Naspers CEO Bob van Dijk said.

“As one of the world’s leading technology investors, we understand the value of technology and are pleased to support these efforts by also listing on A2X. We believe our shareholders will appreciate the added choice of trading venues.”

There is no cost, risk, or additional regulatory compliance for Naspers as a result of its secondary listing.

“We are thrilled to welcome Naspers onto the A2X platform. As the largest listed company in South Africa and one of the largest technology investors in the world, operating in more than 120 countries and markets, this is a great endorsement for the merits of a secondary listing,” A2X CEO, Kevin Brady says.

Naspers logo
Naspers logo

“Their belief in the power of local backed by global scale resonates with us. We are run by an experienced local team that harnesses some of the most advanced international exchange technology to provide an efficient and cost-effective trading venue to secondary list and trade shares. The end-to-end costs of transacting on A2X are 50% lower than current trading costs in South Africa.”

The listing of Naspers on the A2X platform brings the number of companies listed to fifteen with a combined market capitalisation of almost R2 trillion. A2X commenced trading in October 2017 and has nine approved brokers that account for approximately 50% of total market activity.

A2X is a licensed stock exchange regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.