The bank’s secondary listing on A2X demonstrates its support for developing South Africa’s capital markets.
Absa Group has announced that it will be listing its ordinary shares for trade on A2X Markets, starting 2 February 2023.
“We are very pleased to be listing on A2X, which further demonstrates our support for developing South Africa’s capital markets,” Absa Group FD Jason Quinn said. “It offers investors a wider choice of where to trade our shares and potentially reduces their trading costs.”
Absa will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will not be affected by its secondary listing on A2X.
The listing brings the number of instruments listed on A2X to 94, with a combined market capitalisation of R6.5 trillion. It is the 19th top 40 constituent with a listing on A2X, along with AngloGold Ashanti, Aspen, Exxaro, Discovery, and more.
A2X CEO Kevin Brady said: “We are delighted to be welcoming Absa Group, one of Africa’s largest financial services groups, to our market next week. In July 2019, Absa became the first issuer to secondary list ETFs on A2X and we are pleased to bring the benefits and savings that a listing on A2X brings to Absa Group investors too.”
