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Implats secondary listing on A2X Markets gets green light

Implats’ issued share capital will be unaffected by the additional listing on A2X.

Implats’ issued share capital will be unaffected by the additional listing on A2X.

Published Jun 7, 2022

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Impala Platinum (Implats) said yesterday it had been approved for a secondary listing on A2X Markets.

JSE-listed producer of platinum and associated platinum group metals, Implats said its ordinary shares would be available for trade on A2X from Monday, June 13, 2022.

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Implats has mining operations in South Africa, Zimbabwe, and Canada and employs more than 56 000 people across its operations.

The listing on A2X would be Implats’ secondary listing. Implats’ issued share capital would be unaffected by the additional listing on A2X, it said.

Implats chief financial officer Meroonisha Kerber said: “This secondary listing complements our primary listing and provides investors with a competitively priced choice of venue to transact in the company’s shares.

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“Implats investors gain exposure to a global precious metals portfolio, comprising operating PGM assets, projects, and a toll-refining business. Together, our operations are well-positioned to capture the benefits of the full PGM value chain through integrated processing facilities, including wholly-owned smelters, as well as base and precious metal refineries. This secondary listing on A2X aligns with international best practice and supports the growth and development of South Africa’s capital markets,” Kerber said.

A2X chief executive Kevin Brady said: “Implats has a proud 50-year history in precious metals mining and it is wonderful to welcome a company that is producing metals that contribute to a cleaner, greener world. We are excited to welcome a company of this calibre to our market.”

Implats said the listing would bring the number of instruments available for trade on A2X to 68 with a combined market capitalisation of around R4.5 trillion.

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Implats joins AngloGold Ashanti, African Rainbow Minerals, Pan African Resources, Exxaro, and Tharisa from the mining sector with secondary listings on A2X.

Implats in its last set of results for the six months ended December 31, 2021, released in March, reported a 4 percent decline in headline earnings at R13.8 billion on the back of a 9 percent fall in Heps to 1.690 cents per share. - Diekteseng Maleke

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