Photo: Siphiwe Sibeko, Reuters
Retailer Woolworths Holdings Limited (WHL)announced on Friday that it would list its shares for trade on A2X Markets (A2X) from December 2, 2022.
In a statement, WHL said it would retain its primary listing on the Johannesburg Stock Exchange (JSE), adding that its issued share capital will be unaffected by its secondary listing on A2X.
A2X is a licensed stock exchange that provides a secondary platform for companies to list their shares for trade.
"This secondary listing benefits investors trading in WHL shares through reduced fees and transaction costs, with no added cost or regulation to WHL – effectively benefiting both parties," it said.
WHL group CEO Roy Bagattini said: “We are very pleased to be listing on A2X and to be able to offer investors greater access to trade our shares, and the opportunity to participate in the on-going growth and development of South Africa’s capital markets.”
A2X CEO Kevin Brady said: “Woolworths is one of South Africa’s most iconic retail brands which is backed by a culture of sustainability and is renowned for doing good business. We are delighted to be welcoming them to our market.”
Woolworths is the 18th SA Top 40 constituent to list on A2X joining AngloGold Ashanti, Aspen, Exxaro, Discovery, Growthpoint, Implats, Investec LTD. Investec PLC, Mr Price, Naspers, Nedbank, NEPI Rockcastle, Prosus, Remgro, Sanlam, Sasol, and Standard Bank are also listed on A2X.
The listing will bring the number of instruments listed on A2X to 91 with a combined market capitalisation of around R5.2 trillion, the group said.
A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.
BUSINESS REPORT