Tiger Brands lists on A2X Markets
Tiger Brands’ listing on A2X supports the development of a healthy capital market, says CFO Deepa Sita.
Tiger Brands has been approved for a secondary listing on A2X Markets and will start trading its ordinary shares from 26 October 2021.
CFO Deepa Sita said that Tiger Brands’ listing on A2X “provides shareholders with the choice to transact the company’s shares on an additional platform and capture the benefits it offers”, adding that it supports the development and growth of a healthy capital market in South Africa.
Tiger Brands will retain its primary listing on the Johannesburg Stock Exchange and its issued share capital will be unaffected by its secondary listing on A2X.
A2X Markets CEO Kevin Brady said that the exchange is delighted to have a heritage company of Tiger Brands’ calibre on board as it celebrates A2X’s fourth birthday. “Their listing on A2X will enable its shareholders to capture the advantages of A2X’s lower cost structure, narrower spreads and added liquidity.”
Tiger Brands’ listing will bring the number of instruments available for trade on A2X to 57, with a combined market capitalisation of about R5 trillion. The food producer joins other well-known South African retail and FMCG companies on the exchange, including Ascendis Health, AVI, Mr Price and Famous Brands.