Capital Appreciation lists on A2X Markets
DURBAN - SOUTH African fintech group Capital Appreciation (Capprec) said on Thursday that it had been approved for a secondary listing on A2X Markets with shares set to be available for trade from next Friday.
Capprec will retain its primary listing on the JSE and its issued share capital will remain unaffected by its secondary listing on A2X.
Capprec joint chief executive Bradley Sacks said by bringing cutting-edge fintech to clients, it gave them the opportunity to improve efficiency, reduce cost and enhance customer experience.
“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,” said Sacks.
A2X chief executive Kevin Brady said: “We look forward to demonstrating the benefits that a secondary listing on A2X will bring to both Capital Appreciation and its investors.”
Capprec 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. | Given Majola