Johann Rupert’s investment holding company, Remgro, will list on the A2X on January 3, bringing the number of stocks on the alternative exchange to 60.
Remgro will retain its primary listing on the JSE and will add about R66.9bn in market value to an exchange, with a combined market capitalisation of R5-trillion.
Remgro’s biggest investment is its stake in private hospital operator Mediclinic, but its interests range from financial services and consumer products to infrastructure.
“At Remgro our vision is to be the trusted investment company of choice that consistently creates sustainable stakeholder value,” said CEO Jannie Durand in a statement.
“Our listing on the A2X is an extension of this commitment and provides our investors with the choice to source additional liquidity and opportunity to capture benefits of narrower spreads and lower exchange fees,” he said.
“We are delighted to welcome Remgro to A2X in January and it will be our first listing for 2022,” said A2X CEO Kevin Brady.
“Remgro is a well-known and highly respected SA investment company and its listing on A2X is an endorsement for both the benefits of a listing on A2X and the importance of a healthy and competitive capital market,” he said.
A2X is licensed to provide a secondary listing venue for companies in SA and is regulated by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA). The exchange, which counts African Rainbow Capital and Absa among its shareholders, told Business Day in October that it was planning to seek a primary-listings licence within the next two years.
Big names already on the bourse include Standard Bank, Naspers, Mr Price, Exxaro and Sanlam.
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