Mr Price Group has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 2 May 2019. Photo: File

DURBAN - Mr Price Group (Share code: MRP) has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 2 May 2019. 

Mr Price retains its listings on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.  There is no cost, risk, or additional regulatory compliance for Mr Price as a result of its secondary listing.

The Chief Executive of Mr Price Mark Blair said, "At Mr Price, one of our core values is partnership and it is part of our philosophy to share the ownership and success of our company. We have a long history of delivering value to our shareholders and we see this secondary listing as an opportunity to continue that trend. Listing on A2X markets gives more choice to our current investors and opens up opportunity for us to attract potential new investors". 

"We are pleased to welcome Mr Price to the growing list of companies on A2X.  The first retail company listing is an important milestone for A2X as we continue to attract listed companies from across various sectors. We look forward to demonstrating the benefits that effective competition in the secondary share market will bring to Mr Price’s investors," said A2X Chief Executive Kevin Brady.

Mr Price’s listing will bring the number of securities available for trade on A2X to 20 with a combined market capitalisation of over R2.4 trillion. A2X boasts listings from many key sectors, including media, mining, banking, property, FMCG, financial services, insurance, healthcare and telecommunications.

A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017 and has nine approved brokers that account for about 50 percenT of market activity.

BUSINESS REPORT ONLINE