Santam will be listed on JSE competitor A2X Markets exchange as of 1 February 2019.
On Friday, Santam announced that it will effect a secondary listing of its shares on the A2X Markets exchange as of 1 February, while still retaining its listings on the JSE and the Namibian Stock Exchange. Its issued share capital will be unaffected by the listing on the A2X and there will be no cost, risk or additional regulatory compliance for Santam.
Santam CFO Hennie Nel told CFO South Africa that the listing will enable a different channel for potential shareholders to obtain Santam shares.
“Having an alternative exchange is quite common in the rest of the world, and now we have one in South africa. We see A2X as a competitor to the JSE, and we’re always happy to encourage competition.”
He says that the listing comes with no downsides for Santam:
“The listing provides this access for shareholders without any additional costs or regulations for Santam as a business, so we were happy at a board level to go ahead.”
He says that overall, Santam has received positive feedback to its new listing. “I think that the fact that there are more companies now on the platform creates credibility.”
Santam obtained a primary listing on the JSE in 1964 and later obtained a secondary listing on the Namibian Stock Exchange.