TIGER Brands, South Africa's largest food producer valued at R35.72 billion, has been approved for secondary listing on A2X Markets and its ordinary shares would commence trading on the stock exchange from next Tuesday, it said in a statement yesterday.
Tiger Brands, with brands including All Gold, Black Cat, Albany, Koo and Jungle Oats, would retain its primary listing on the JSE and its issued share capital would be unaffected by its secondary listing on A2X.
Tiger Brands chief financial officer Deepa Sita said: “Our listing on A2X provides our shareholders with the choice to transact our shares on an additional platform and capture the benefits it offers. In addition, it supports the development and growth of a healthy capital market in South Africa.”
Kevin Brady, the chief executive of A2X Markets, said: “Tiger Brands is home to a large number of iconic South African brands and we are delighted to have a heritage company of this calibre on board as we celebrate A2X’s fourth birthday.
“Their listing on A2X will enable its shareholders to capture the advantages of A2X’s lower cost structure, narrower spreads and added liquidity.”
BUSINESS REPORT