Sygnia becomes JSE rival A2X’s 11th listing

Sygnia’s shares will start trading on A2X on September 13, bringing the number of companies trading on the JSE’s competitor to 11.

“Sygnia is known as an innovative and entrepreneurial company and we are delighted to have them listing on A2X. Sygnia’s ability to challenge the status quo and do things in an innovative, cost-effective manner resonates with us,” A2X CEO Kevin Brady said in a media release on Thursday.

Sygnia 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 Sygnia as a result of its secondary listing,” the joint media release said.

“We support disruption, competition and best practice in SA’s capital markets,” Sygnia CEO Magda Wierzycka said.

“International experience has shown how competition helps drive a more efficient and responsive industry, which ultimately benefits the end consumer and assists in the overall growth of the market.”

A2X claims its “end-to-end costs of transacting are 50% lower than current trading costs in SA”.

Source: businesslive.co.za