[South Africa] Mr Price lists on A2X
Mr Price Group (Share code: MRP) shares are now available for trade on A2X Markets. Mr Price will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
A2X CEO, Kevin Brady said, “We are pleased to welcome our first retailer to A2X. Mr Price has a long history of delivering value to shareholders and we look forward to helping them do just that by offering a secondary platform on which to trade Mr Price shares.
“It is encouraging that companies from across various sectors see the benefits that a secondary listing can bring. Not only does it provide an alternative venue on which to transact but the low fee structure drives significant savings for the end investor creating a better-quality market by narrowing spreads and attracting new liquidity.”
Mr Price’s listing will bring the number of companies available for trade on A2X to 19 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% of market activity.