Growthpoint becomes first property listing on A2X Markets

Google+ Pinterest LinkedIn Tumblr +

Growthpoint will retain its primary listing on the JSE and will not issue any new shares in connection with its secondary listing on A2X.

There is no cost, risk, or additional regulatory compliance for Growthpoint as a result of its secondary listing on the A2X.

“We are pleased to complement our primary listing with a secondary listing on A2X. Making Growthpoint’s shares available on a second trading platform in South Africa benefits shareholders and stockbrokers by providing an additional venue to transact with lower costs. We value our primary listing on the JSE profoundly and believe that our secondary listing on the A2X contributes to the growth and efficiency of South Africa’s financial markets, encourages competition, and aligns with global practices,” Norbert Sasse, Growthpoint Properties Group Chief Executive Officer.

“Growthpoint supports free market principles and best practice. In Europe, the Markets in Financial Instruments Directive (MiFID) requires stockbrokers to carry out the ‘best execution’ for transactions on their clients’ behalf, and this includes factors such as costs, speed, and success rate of transactions. By listing on the A2X platform, Growthpoint is giving our stockbrokers access to increased choice in execution, including lower transaction costs that they can pass on to investors. It encourages practices in line with global markets. Five of the top six ranked brokers in South Africa are already trading on the A2X platform,” adds Lauren Turner, Growthpoint Head of Investor Relations.

“We are delighted to welcome a company of Growthpoint’s calibre onto A2X. As our first property listing , it is an important milestone for us and we look forward to demonstrating the benefits that effective competition in the secondary share market will bring to both Growthpoint and its investors,” says Kevin Brady, A2X Chief Executive Officer.

A2X is a licensed stock exchange which provides a secondary listing venue for companies.

Companies currently listed on A2X:

African Rainbow Capital

Afrimat Ltd

Anchor Group

Ascendis Health

Coronation Fund Managers

Huge Group

Growthpoint Properties

Sandown Capital

Sanlam Ltd

Peregrine Holdings

Share.

About Author

Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

Leave A Reply