[South Africa] Ascendis Health becomes first healthcare listing on A2X
Multinational health and care brands company Ascendis Health became the first healthcare company to list on A2X Markets this morning. It has a market cap of R5.4 billion.
Ascendis will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. Ascendis shares are now available to be traded on both the JSE and A2X.
Ascendis Health CEO Thomas Thomsen said, “We are pleased to complement our primary listing on the JSE with the secondary listing on A2X. We see the secondary listing as an opportunity to attract potential new investors through the lower-cost trading structure of A2X and broaden our shareholder base. There is no cost to the secondary listing or any additional regulatory compliance.”
A2X CEO, Kevin Brady says, “We are delighted to welcome Ascendis Health aboard. The first healthcare 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 Ascendis’ investors.”
A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority (formerly the Financial Services Board) in terms of the Financial Markets Act. A2X began trading in October last year and now has eight approved brokers and eight companies listed on its platform with a combined market capitalisation of more than R220 billion.
Ascendis Health is a South African-based global health and care company with a portfolio of market leading brands and products exported to over 120 countries globally.
A2X uses technology developed by the UK’s Aquis Technologies, a division of Aquis Exchange, which includes proven exchange matching and surveillance systems and a clearing platform custom-built for A2X. Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority. The market-leading exchange systems are fast and efficient. Its surveillance system is programmed to monitor trading across multiple markets and ensures that any trading anomalies are detected early.