PBT Group (share code: PBG) has been approved for a secondary listing on A2X Markets, and its shares will be available for trade on A2X from 1 February 2022.
PBT Group will retain its primary listing on the JSE Limited (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.
PBT Group with a market capitalisation of R975m is a technology and cloud agnostic data and digital services and solutions provider. The services across the group comprise of:
* Advisory and Strategic;
* Data Engineering;
* Analytics and Visualisation;
* Cloud and DevOps;
* Application and Software Development;
* SQA and Testing;
* Mobile and Web Development, UI and UX; and
* Software Solutions specific to the Healthcare Sector.
PBT Group has a headcount of 840, the majority being billable consultants. Revenue is derived in South Africa (89%), Australia (7%) and Europe (4%). PBT Group’s clients are large, mostly public companies, operating in various industries including financial services, telecommunications, retail, medical and energy.
PBT Group CEO Elizna Read says: “We are excited to give our shareholders an additional trading venue where the benefits offered by A2X accrue to our shareholders.”
Kevin Brady, A2X CEO, comments: “We are pleased to welcome PBT Group to A2X. Having a respected data specialist list on A2X further endorses the real benefits available to both industry and shareholders by having the choice to transact on a low-cost platform.”
The addition of PBT Group to the A2X board will bring the number of instruments available for trade on A2X to 61 with a combined market capitalisation of around R5.2 trillion. These companies include Top40 constituents: Aspen, Growthpoint, Mr Price, Investec, Naspers, NEPI Rockcastle, Prosus, Standard Bank, Sanlam and Sasol.
“A secondary listing complements a company’s primary listing and comes with no cost, risk or additional regulatory requirements. Every listed company should do the same,” adds Brady.
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. A2X began trading in October 2017.