JOHANNESBURG - Fashion retailer Mr Price Group will list its shares for trade on the A2X markets on Thursday while it will retain its primary listing on the Johannesburg Stock Exchange (JSE).
Mr Price said that its issued share capital will be unaffected by its secondary listing on A2X.
Mr Price's listing will bring the number of companies available for trade on A2X to 19 with a combined market capitalisation of over R2.4 trillion.
A2X, a licensed stock exchange which provides a secondary listing venue for companies, boasts listings from many key sectors, including media, mining, banking, property, FMCG, financial services, insurance, healthcare and telecommunications.
Kevin Brady, A2X chief executive, said they were pleased to welcome a first retailer to A2X.
Brady said Mr Price has a long history of delivering value to shareholders and that the A2X was looking forward to helping them do just that by offering a secondary platform on which to trade Mr Price shares.
"It is encouraging that companies from across various sectors see the benefits that a secondary listing can bring," Brady said.
"Not only does it provide an alternative venue on which to transact but the low fee structure drives significant savings for the end investor creating a better-quality market by narrowing spreads and attracting new liquidity."
- African News Agency (ANA)