Sygnia shares begin trading on A2X today under share code SYG.
Sygnia is the eleventh issuer to secondary list on the exchange, and retains its primary listing on the JSE.
Sygnia is an innovative FinTech company based in South Africa and listed on the main board of the JSE. The company provides asset management, stockbroking and administration services, as well as a wide range of savings products, to institutional and retail clients supported by advanced technology platforms.
Today’s listing provides Sygnia with an opportunity to broaden and diversify its offering to benefit its clients and spur local innovation. “We support disruption, competition and best practice in South Africa’s capital markets. International experience has shown how competition helps drive a more efficient and responsive industry, which ultimately benefits the end consumer and assists in the overall growth of the market,” says Sygnia CEO, Magda Wierzycka.
Sygnia is the largest equity ETF provider in South Africa (second largest overall) offering investors the widest range of ETFs tracking international equity markets, and managing over R19.68 billion in ETF investments. A2X applied for an amendment to its exchange license to include the secondary listing of ETFs and is awaiting approval from the regulator.
A2X CEO Kevin Brady says: “Sygnia is known as an innovative and entrepreneurial company and we are delighted to have them listing on A2X today. Sygnia’s ability to challenge the status-quo and do things in an innovative, cost-effective manner resonates with us,” he said.