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A2X gains scale as Standard Bank and AVI list
A2X gains scale as Standard Bank and AVI list. When the two companies start trading on the exchange next Thursday, it will have 13 listings with a combined market cap of more than R520 billion.
Standard Bank and AVI have joined the growing number of companies taking a secondary listing on the nascent A2X stock exchange, with both companies approved for inclusion from next Thursday.
A2X began trading just over a year ago and has now has 13 listed companies and nine leading brokers using its platform. The inclusion of Standard Bank and AVI raises the market capitalisation of companies listed on the exchange to over R520 billion.
Standard Bank will become the first bank to list on the exchange, which is aimed specifically at secondary listings, while AVI will become the first fast-moving consumer goods company. Standard Bank has a market cap of more than R283 billion while AVI is worth almost R40 billion and has a portfolio of more than 50 brands.
The A2X listings don't affect the companies primary listings or their issued share capital on the JSE. Standard Bank said the move was complementary.
We have listened to our institutional investors, who have called for this secondary listing, which will offer enhanced choice to investors to trade through A2X's platform and which demonstrates our support for the deepening and broadening of financial markets," financial director Arno Daehnke said.
Other companies listed on A2X include Anchor Group, Afrimat, African Rainbow Capital, Ascendis Health, Coronation Fund Managers, Growthpoint Properties, Huge Group, Peregrine, Sandown Capital, Sanlam and Sygnia.
Our pipeline of issuers remains healthy and trade on our platform is growing sharply as the industry adapts to have a lower cost alternative platform for trade," A2X CEO Kevin Brady said.
Standard Bank closed 3.4% lower on the JSE yesterday at R175.01, while the Banks Index closed 2% down. AVI gained 0.2% to R107.07.
Glad @A2X_Markets is doing well it's good news all around.
-- Greg Davies (@the_gregdavies) November 8, 2018
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By INCE|Connect NewsA2X gains scale as Standard Bank and AVI list. When the two companies start trading on the exchange next Thursday, it will have 13 listings with a combined market cap of more than R520 billion.
Standard Bank and AVI have joined the growing number of companies taking a secondary listing on the nascent A2X stock exchange, with both companies approved for inclusion from next Thursday.
A2X began trading just over a year ago and has now has 13 listed companies and nine leading brokers using its platform. The inclusion of Standard Bank and AVI raises the market capitalisation of companies listed on the exchange to over R520 billion.
Standard Bank will become the first bank to list on the exchange, which is aimed specifically at secondary listings, while AVI will become the first fast-moving consumer goods company. Standard Bank has a market cap of more than R283 billion while AVI is worth almost R40 billion and has a portfolio of more than 50 brands.
The A2X listings don't affect the companies primary listings or their issued share capital on the JSE. Standard Bank said the move was complementary.
We have listened to our institutional investors, who have called for this secondary listing, which will offer enhanced choice to investors to trade through A2X's platform and which demonstrates our support for the deepening and broadening of financial markets," financial director Arno Daehnke said.
Other companies listed on A2X include Anchor Group, Afrimat, African Rainbow Capital, Ascendis Health, Coronation Fund Managers, Growthpoint Properties, Huge Group, Peregrine, Sandown Capital, Sanlam and Sygnia.
Our pipeline of issuers remains healthy and trade on our platform is growing sharply as the industry adapts to have a lower cost alternative platform for trade," A2X CEO Kevin Brady said.
Standard Bank closed 3.4% lower on the JSE yesterday at R175.01, while the Banks Index closed 2% down. AVI gained 0.2% to R107.07.
Glad @A2X_Markets is doing well it's good news all around.
-- Greg Davies (@the_gregdavies) November 8, 2018