The listing will give more choice and attract potential new investors, says Vunani CEO Ethan Dube.
On Wednesday 24 July, A2X announced that it has approved financial services group Vunani for a secondary listing on A2X Markets. Its shares will be available for trade on A2X from 31 July.
A2X CEO Kevin Brady said that they are delighted to welcome Vunani to the stock exchange. “This secondary listing not only provides choice to Vunani investors but enables savings to be captured as A2X’s low-cost structure drives a better-quality market by narrowing spreads and attracting new liquidity,” Kevin said.
Vunani will retain its listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. The press release said that there is no cost, risk, or additional regulatory compliance for Vunani as a result of its secondary listing.
Vunani CEO Ethan Dube said:
“Our business model is designed to create stakeholder value by bringing together diversified financial services platforms and product offerings. Our listing on A2X is another way for us to support this model by giving more choice to our current investors and opening opportunity to attract potential new investors.”
Vunani’s listing will bring the number of securities availbale for trade on A2X to 26 with a combined market capitalisation of over R2.4 trillion.