Altvest Capital, which listed on the Cape Town Stock Exchange (CTSE) in May, will also list its shares for trade on A2X Markets on 6 September.
Companies listed on the CTSE are able to secondary list their shares on A2X and access both the retail and wholesale markets in South Africa.
Altvest is a retail investing-focussed platform democratising access to bespoke private equity opportunities. Through a fractionalised investment offering and low entry points, Altvest is able to connect retail investors to opportunities previously exclusive to a small, select pool of high-net-worth investors.
Altvest retains its listing on the CTSE, which performs the primary regulation function. Its issued share capital will be unaffected by its secondary listing on A2X.
Altvest director Warren Wheatley says: “The Altvest team have created a platform that democratises alternative investments. A secondary listing on A2X expands our current retail focused offering and opens the door to providing wholesale investors access to Altvest and its underlying instruments through the A2X platform. As an investment company, the Altvest retail investor community is particularly sensitive to lower trading fees. The improved market quality which A2X brings to South African financial markets really does benefit investors.”
Kevin Brady, CEO of A2X Markets, comments: “We are pleased to be welcoming Altvest to A2X next week. Altvest is the 70th security to list on our platform. All companies, regardless of where their primary listing is in South Africa, should have a secondary listing on A2X. Benefits of a secondary listing on A2X include increased liquidity, lower fees and the opportunity to broaden a company’s shareholder base.”
Altvest’s listing on 6 September will bring the number of instruments available for trade on A2X to 70 with a combined market capitalisation of about R5,5-trillion. Altvest joins TWK Investments as the second company from the CTSE to secondary list on A2X. Other well-known companies including AngloGold Ashanti, Investec, Discovery, Implats, Naspers, Prosus, Nedbank Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price, Growthpoint, Momentum Metropolitan and Tiger Brands all have secondary listings on A2X.