Nedbank Group has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from 1 April 2022.
Nedbank will retain its listing on the Johannesburg Stock Exchange (JSE) and a secondary listing on the Namibian Stock Exchange (NSX). Its issued share capital will be unaffected by its listing on A2X.
Nedbank CFO Mike Davis comments: “Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares.”
A2X CEO Kevin Brady says: “Nedbank is a well-respected and admired South African bank with a rich history and we are pleased to be welcoming the business to A2X in April. We look forward to demonstrating the benefits that an A2X listing will bring to its shareholders.”
The listing will bring the number of instruments available for trade on A2X to 62 with a combined market capitalisation of around R4,2-trillion. Nedbank joins Standard Bank and Investec Ltd and Investec plc from the banking sector and other Top40 Index constituents, namely Aspen, Exxaro, Growthpoint, Mr Price, Naspers, Nepi, Prosus, Remgro, Sanlam and Sasol.
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.