[South Africa] Afrimat becomes fourth listing on A2X
Afrimat Limited, a leading black empowered open pit mining company providing industrial minerals, commodities and construction materials, listed on A2X this morning joining African Rainbow Capital Investments (AIL), Peregrine Holdings (PGR) and Coronation Fund Managers (CML).
Afrimat will retain its primary listing on the main board of JSE and its issued share capital will be unaffected by its secondary listing on A2X. Afrimat shares will be traded on both the JSE and A2X from today.
Andries van Heerden, CEO of Afrimat explained his rationale for listing, “Our board agrees that stock exchange competition is healthy for the entire market. We support the idea that reduced cost of trading will bring in additional investors. We look forward to being traded on A2X.”
Says Kevin Brady, CEO of A2X, “We are delighted to welcome Afrimat to our exchange and thank the board and the company’s sponsors, Bridge Capital Advisors for the confidence shown in A2X.”
Earlier this week, A2X announced the addition of approved SBG Securities as a broker member. SBG Securities is the leading stock broking firm in Africa and a wholly owned subsidiary of Standard Bank Group Ltd. Stockbrokers RMB Morgan Stanley, Peregrine Securities, Investec Securities and Avior Capital Markets have also been approved while Nedbank Securities and Sinayo Securities are to follow shortly.