SA’s FinTech Group Capital Appreciation To List On A2X

Capital Appreciation
Brad Sacks Joint Chief Excecutive Capital Appreciation

South African FinTech group Capital Appreciation Limited (Capprec) has been approved for a secondary listing on A2X Markets.

Its shares will be available for trade on A2X from 18 December 2020.

The company said in a statement that it will retain its primary listing on the Johannesburg Stock Exchange (JSE).

Capprec is a financial technology company with proprietary and licensed platforms, solutions, products and applications targeted at the B2B market. CAPPREC’s client base includes all major banking institutions in South Africa, as well as many niche banks, large financial services institutions and other financial services companies.

In recent times, the Company has also successfully diversified into the Retail, Telecoms and Healthcare sectors. Capital Appreciation has a market capitalisation of R1.5 billion.

“By bringing cutting-edge FinTech to our clients, we give them the opportunity to improve efficiency, reduce cost and enhance customer experience,” Capprec joint CEO, Bradley Sacks said.


“Our secondary listing on A2X extends this principle to our shareholders by providing them with the choice of transacting on an alternative platform, that through the use of the latest high-performance technology offers efficiency gains in the form of lower exchange fees and price improvement. This ultimately gives our transacting shareholders the opportunity to save money and supports the growth and development of the South African market”.

Last week, the group said headline earnings rose by 7.8% to R54.2 million for the six months ended 30 September 2020. In the prior period, Capprec concluded and successfully executed a transaction that included the share repurchase and cancellation of 245 million shares. The lower number of shares in issue benefited headline earnings per share (HEPS), which grew by 29.7% to 4.45 cents per share. HEPS is South Africa’s main profit gauge.

The company said strong growth for the six months ended 30 September 2020 was boosted by ongoing acceleration in digital transformation and electronic payments.

“We are delighted to have a FinTech company of Capital Appreciation’s standing join our platform and we look forward to demonstrating the benefits that a secondary listing on A2X will bring to both Capital Appreciation and its investors,” A2X CEO, Kevin Brady said.

Capital Appreciation joins other well-known companies on A2X including, Naspers, Standard Bank, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price and Famous Brands. The listing next week will bring the number of securities available for trade on A2X to 39 with a combined market capitalisation of more than R2.2 trillion. A2X has listings from many key sectors, including media, property, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.

A2X is a licensed stock exchange which 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. A2X began trading in October 2017 and has eight approved brokers, including five of the top six largest brokers as measured by value traded.


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