Mobile operator Vodacom would trade as a secondary listing on the A2X Stock Exchange at market open on Thursday, 26 October, it said yesterday in a statement.
Holders of Vodacom’s ordinary shares can be traded on A2X from the date of listing.
Vodacom chief financial officer Raisibe Morathi says, “We are pleased that the secondary listing on A2X has been approved. As we grow and having recently accelerated our growth profile by completing the acquisition of a 55% stake in Vodafone Egypt, we are delighted to be able to give our investors an alternative venue to trade and trust they will find this beneficial.”
The group said it would retain its primary listing on the JSE and its issued share capital would be unaffected by the additional listing on A2X. The secondary listing on A2X complemented the company's primary listing by providing its investors with an alternative trading venue, it said.
Vodacom Group’s mobile networks cover a population of more than 500 million people. The company operates in the Democratic Republic of the Congo, Egypt, Lesotho, Mozambique, Tanzania and South Africa, as well as in Kenya and Ethiopia through a 35% shareholding in Safaricom.
A2X CEO, Kevin Brady, said, “Vodacom is one of Africa’s most recognised and respected brands and we are delighted to be welcoming them onto our platform next week. We look forward to demonstrating the benefits that a listing on A2X will bring to both Vodacom Group and its investors.”
There are 182 instruments currently listed on A2X, including 30 top 40 constituents, with a combined market capitalisation of about R10 trillion.
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