Black-owned and managed diversified financial services group Vunani said on Wednesday it had been approved for a secondary listing on A2X Markets. File Photo: IOL

JOHANNESBURG  -Independent black-owned and managed diversified financial services group Vunani said on Wednesday it had been approved for a secondary listing on A2X Markets and its shares would be available for trade on the platform from July 31.

Vunani will retain its listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by the A2X move.

In a statement, the company said there was no cost, risk, or additional regulatory compliance for it as a result of the secondary listing.

Vunani's entrance will bring the number of securities available for trade on A2X to 26, with a combined market capitalisation of over R2.4 trillion and covering various sectors including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.

"Our business model is designed to create stakeholder value by bringing together diversified financial services platforms and product offerings," Vunani CEO Ethan Dube said.

"Our listing on A2X is another way for us to support this model by giving more choice to our current investors and opening opportunity to attract potential new investors.”

- African News Agency (ANA)