File Photo: IOL
Vunani, an independent black-owned and managed diversified financial services group, has joined other 25 South African companies in moving a secondary listing to the A2X Markets, in a move that is meant to create more choice to its existing shareholders and to attract new investors.

The group said the secondary listing had been approved by A2X Markets and that its shares would be available for trade as from next week. It said it would retain its listing on the JSE with the issued share capital not be affected.

Chief executive Ethan Dube said the listing on A2X Markets has added advantage for the group as it will enable it to attract new investors.

“Our business model is designed to create stakeholder value by bringing together diversified financial services platforms and product offerings. Our listing on A2X is another way for us to support this model by giving more choice to our current investors and opening opportunity to attract potential new investors,” Dube said.

Vunani operates off a strong operational platform and offers a fully integrated range of products and services. The group employs more than 271 people in the companies in which it holds more than a 50 percent equity interest and its footprint is spread across the Southern African Development Community. It has offices in Johannesburg, Cape Town, Harare, Lusaka, Mbabane and Blantyre.

A2X Markets, which started trading in October 2017, has already attracted some of heavyweights on the JSE, such as Sanlam, Standard Bank, Naspers, Mr Price, Aspen Pharmacare and Santam, to name just a few.

The successful listing of Vunani will bring combined market capitalisation of securities available for trade on A2X to more than R2.4 trillion.

Vunani shares closed unchanged at R2.50 on the JSE yesterday.

BUSINESS REPORT