Transaction Capital heads for A2X


Transaction Capital heads for A2X

Published Date: 2019-09-04 | Source: Stephen Gunnion | Author: Stephen Gunnion

Transaction Capital heads for A2X

The group will retain its primary JSE listing and its share capital will not be affected by the secondary listing.

Transaction Capital will become the 29th security available on A2X markets when it lists on the stock exchange next week.

The group provides finance, insurance and repairs to the taxi industry through its SA Taxi business, while Transaction Capital Risk Services (TCRS) buys and manages non-performing loan portfolios. It said the secondary listing on A2X supported its free market principles and offered enhanced choice to investors in an efficient and low-cost manner.

Securities listed on A2X include listed companies and, more recently, exchange-traded funds. The exchange says the addition of Transaction Capital, with a market capitalist of R13.5 billion, would take the combined market capitalisation of all the securities to over R2.4 trillion, with listings from key sectors including media, mining, banking, retail, fast-moving consumer goods, financial services, insurance, healthcare and telecommunications.

Transaction Capital said it would retain its primary listing on the JSE and its issued share capital would be unaffected by the secondary listing on A2X.

Its shares closed 0.5% lower at R22.35 yesterday.

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