Shoprite Holdings, South Africa’s biggest retailer, has been approved for a secondary listing in the country on A2X Markets. This will mark the fourth exchange that the company shares will be available to investors.
The company is already listed on the Johannesburg Stock Exchange, the Lusaka Securities Exchange, Namibian Stock Exchange. Its issued share capital will not be affected by the additional listing on A2X.
The shares will be available for trade on A2X from 11 April 2023.
Shoprite Group is South Africa’s largest retailer by market capitalisation, profit, sales, and also the number of employees and customers. Its core business is food retailing, with value-added retail services across multiple industries including e-ccomerce, ticketing, furniture, hospitality, pharmaceutical, as well as cellular and financial services.
The Shoprite listing will bring the number of instruments listed on A2X to 112, with a combined market capitalisation of around R6.7 trillion. Shoprite’s listing on A2X highlights an important milestone for the exchange due to the fact that over half of all top 40 constituents now have a secondary listing on the exchange.
Shoprite will be joining other Top 40 companies, including Mr Price Group, Aspen, Absa, Investec, Discovery, Naspers, Prosus, Nedbank Group, Sasol, Woolworths and Standard Bank.
“We are delighted to be welcoming Africa’s largest retailer to our platform next week. As demonstrated by its most recent financial results, Shoprite is an exceptional company that has delivered ongoing growth even in a difficult operating environment,”Kevin Brady, A2X CEO
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.
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