4 Africa Exchange (4AX) has announced its first two issuers listings on the Exchange – NWK Limited and NWK Holdings Limited.
Fay Mukaddam, 4AX CEO, says:
"We are delighted to have secured these two listings and, with the launch of these two issuers, are exceptionally proud to formally open our Exchange for trading."
Previously, NWK used to trade shares in the over-the-counter market under the Security Services Act. Following changes to the Financial Markets Act (FMA), it was prescribed that the NWK companies needed to move to the formal exchange market to comply with the necessary regulatory framework.
Heinrich Krüger (pictured), Chairman of NWK, says:
"These listings are an important milestone for both NWK companies as they demonstrate the national trend towards diversification for growth in the agriculture sector. Although this is a new concept for us and a new way of expanding our business, we are very excited by the opportunities these listings create to gain exposure for the NWK companies into new markets, and continue to grow the value of NWK shares for our existing and potential investors."
Mukaddam said 4AX is "still at the starting gate" and expressed excitement about the future and the burgeoning growth opportunities that exist. She says: "We will continue to focus on bringing African responses to African situations, as we aim to become a preferred alternative exchange for Africa's best companies, leaders and innovators."
