[South Africa] Equites Property Fund to list on A2X
Equites Property Fund (Share code: EQU) has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 1 July 2019. Equites, with a market cap of over R10 billion, retains its listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. There is no cost, risk, or additional regulatory compliance for Equites as a result of its secondary listing.
Equites CEO Andrea Taverna-Turisan said, “The management team at Equites are committed to shareholder value creation. We see this listing on A2X as another opportunity to attract potential new investors and deliver even more value to our shareholders by providing our investors with the choice of a low-cost venue on which to transact our shares.”
A2X CEO, Kevin Brady said, “This is the third company from the property sector to list on A2X, which indicates growing depth across the various market sectors. We are excited to see an increasing number of companies using the opportunity to capture of the benefits that a secondary listing offers. We warmly welcome Equites to our growing list of companies.”
The Equites’ listing will bring the number of securities available for trade on A2X to 22 with a combined market capitalisation of over R2.4 trillion. A2X boasts listings from many other key sectors, including media, mining, banking, retail, 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.