Naspers (share code: NPN) has been approved for a secondary listing on A2X Markets.
Naspers will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. Naspers shares will be available to trade on both the JSE and A2X from Thursday, 27 December 2018. There is no cost, risk, or additional regulatory compliance for Naspers as a result of its secondary listing.
A2X CEO, Kevin Brady says, “We are thrilled to welcome Naspers onto the A2X platform. As the largest listed company in South Africa and one of the largest technology investors in the world, operating in more than 120 countries and markets, this is a great endorsement for the merits of a secondary listing.”
Brady adds, “Their belief in the power of local backed by global scale resonates with us. We are run by an experienced local team that harnesses some of the most advanced international exchange technology to provide an efficient and cost-effective trading venue to secondary list and trade shares. The end-to-end costs of transacting on A2X are 50% lower than current trading costs in South Africa.”
The listing of Naspers on the A2X platform brings the number of companies listed to fifteen with a combined market capitalisation of almost R2 trillion. A2X commenced trading in October 2017 and has nine approved brokers that account for approximately 50% of total market activity.
A2X is a licensed stock exchange regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.