[South Africa] PPC to list on A2X
PPC Limited has been approved for a secondary listing on A2X Markets (A2X). Its shares will be available for trade on A2X from 30 May 2023.
PPC will retain its listing on the JSE Limited (JSE) and the Zimbabwean Stock Exchange (ZSE) and its issued share capital will be unaffected.
PPC is a leading supplier of cement, aggregates, readymix concrete, slag and fly ash. PPC’s story stretches back 130 years to where it was first incorporated on the outskirts of Pretoria in 1892, with seven integrated cement plants across South Africa, Botswana, DRC, Rwanda and Zimbabwe and an annual capacity of around 11,6 million tonnes of cement.
PPC CEO Roland Van Wijnen said: “We are excited to be joining A2X which provides investors with an alternative venue to trade our shares, a platform that offers efficient and cost-effective trading. We are also pleased to be supporting the development of South Africa’s capital markets through this listing.”
A2X CEO Kevin Brady said, “PPC is an iconic South African company that originally listed in 1910 and is one of only three public companies that have remained listed for over 100 years. We are delighted to be welcoming a company to our market next week with such deep history that has literally built South Africa.”
The listing will bring the number of instruments listed on A2X to 129 with a combined market capitalisation of over R9 trillion.
PPC joins other well-known South African companies including AngloGold Ashanti, AVI, Coronation, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Netcare, Prosus, Remgro, Sanlam, Sasol, Sun International, Standard Bank. WBHO and Woolworths who are also listed on A2X.
A2X is a licensed stock exchange that 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.