CAPE TOWN – Fast-moving consumer goods (FMCG) group AVI is set to become the first FMCG company to list on A2X.
AVI will retain its primary listing on the JSE and the issued share capital will be unaffected by its secondary listing on A2X. There is no cost or additional regulatory compliance for AVI as a result of its secondary listing.
AVI is the 12th company to list on A2X and has a market cap of almost R40 billion with a portfolio including more than 50 brands.
The company said in a statement yesterday that AVI shares would be available for trade on A2X from November 15.
A2X chief executive, Kevin Brady said: “AVI is home to many of South Africa’s leading and best-loved brands spanning a range of categories from food, to personal care, fashion and accessories. As the first FMCG company to list on A2X, we view its imminent listing as an important milestone as we attract listed companies from various sectors.
“We are delighted to welcome AVI to our platform and look forward to demonstrating the benefits that effective competition in the secondary share market will bring to AVI’s investors as well as to the growth of the overall market.”
BUSINESS REPORT ONLINE