Truworths has been approved for secondary listing on A2X Markets and its ordinary shares will commence trading on the stock exchange from 5 December 2022.
Truworths will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.
Founded in 1917, the company listed on the JSE and the Namibian Stock Exchange in 1998.
The Truworths International Group is one of the leading fashion retailers in Africa with 785 mainly Truworths and Identity stores, together with 92 Office stores and concessions in the
UK, Germany and the Republic of Ireland.
Physical retail stores are supported by a world-class online business in Office, contributing
approximately 45% of Office’s sales in the period, together with a fast-growing online store in Truworths.
During the 1980s the brand portfolio rapidly expanded with the launch of the French designer brand Daniel Hechter under a long-term licence agreement (1984), Inwear (1986), Truworths Man (1988) and Truworths Jewellery (1989).
In the 1990s internally developed brands LTD (1992), Identity and Truworths Elements (1999) were launched. Ginger Mary followed in 2004 and Hey Betty in 2011. Office London, the South African offering of the Group’s UK footwear brand, was introduced in 2017, with Context and ID Kids launched in 2019.
A2X has listings from several key sectors, including media, property, technology, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.
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. A2X began trading in October 2017, with seven approved brokers that account for over 60% of market activity.