NEDBANK Group has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from next month, a statement said yesterday.
Nedbank will retain its listing on the Johannesburg Stock Exchange (JSE) and a secondary listing on the Namibian Stock Exchange (NSX). Its issued share capital will be unaffected by its listing on A2X.
“Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares,” said Nedbank CFO Mike Davis.
A2X CEO Kevin Brady said: “We are pleased to be welcoming the business to A2X in April.”
The listing would bring the number of instruments available for trade on A2X to 62 with a combined market capitalisation of around R4.2 trillion.
Nedbank joins Standard Bank and Investec Ltd and Investec plc from the banking sector and other Top40 Index constituents, namely Aspen, Exxaro, Growthpoint, Mr Price, Naspers, Nepi, Prosus, Remgro, Sanlam and Sasol.
A2X is a licensed stock exchange that provides a secondary listing venue for companies, that began trading in October 2017.