Growthpoint Properties will on 18 July list on A2X Markets – the first property listing on the new South African stock exchange.
L-R: A2X CEO Kevin Brady and Norbert Sasse, group CEO of Growthpoint Properties
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.
Norbert Sasse, group CEO of Growthpoint Properties, comments: “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.”
A2X CEO Kevin Brady says, “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.”
A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority (formerly the Financial Services Board) in terms of the Financial Markets Act. A2X began trading in October last year and now has nine approved brokers and ten companies listed on its platform.