JOHANNESBURG - South Africa-based global internet and entertainment group Naspers, the largest listed company in the country, has been approved for a secondary listing on the A2X platform, the latter said on Tuesday.
Naspers will retain its primary listing on the Johannesburg Stock Exchange and its issued share capital will be unaffected by its secondary listing, A2X said in a statement.
Naspers shares will be available to trade on both the JSE and A2X from December 27, and there is no cost, risk, or additional regulatory compliance for the company as a result of its secondary listing.
“We are thrilled to welcome Naspers onto the A2X platform," A2X CEO Kevin Brady said.
" As the largest listed company in South Africa and one of the largest technology investors in the world, operating in more than 120 countries and markets, this is a great endorsement for the merits of a secondary listing.”
Naspers' listing brings the number of companies on the A2X platform to 15, with a combined market capitalisation of almost R2 trillion.
A2X commenced trading in October 2017 and has nine approved brokers that account for approximately 50 percent of total market activity.
The exchange is regulated by the Financial Sector Conduct Authority and the central bank.
- African News Agency (ANA), Editing by Stella Mapenzauswa