Mr Price brings A2X into fashion

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Mr Price brings A2X into fashion

Published Date: 2019-04-24 | Source: Stephen Gunnion | Author: Stephen Gunnion | Comments

Mr Price brings A2X into fashion

The exchange says Mr Price's upcoming listing is an important milestone as it continues to attract listed companies from various sectors.

Mr Price is taking a secondary listing on A2X Markets from 2 May in a move it says may attract new investors to the group.

The retailer will retain its listings on the JSE and its issued share capital will be unaffected by the new listing. It said there was no cost, risk or additional regulatory compliance associated with the listing.

A2X set itself up a trading rival to the JSE in October 2017. It says its advanced international exchange technology means it is able to provide an efficient and cost-effective trading venue to secondary list and trade shares. It claimed end-to-end costs of transacting on the platform were 50% lower than current trading costs in SA.

Mr Price's listing will take the number of companies listed on A2X to 20 with a combined market capitalisation of over R2.4 trillion. It said the companies on the exchange already represented a number of key sectors, including media, mining, banking, property, fast-moving consumer goods, financial services, healthcare and telecommunications. Nine approved brokers account for about 50% of market activity.

Mr Price's shares closed 0.1% down at R215.84 yesterday.





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